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On January 1 , 2 0 2 4 , Kasper Store had inventory valued at $ 2 6 5 , 0 0 0 . January

On January 1,2024, Kasper Store had inventory valued at $265,000. January purchases were $130,000 and freight-in charges of $2,000, and purchase returns of $5,000 January sales were $438,000 and sale returns of $3,000. On February 1, a fire destroyed most of the inventory. The rate of gross profit was 20% of cost. Merchandise with a selling price of $15,000 remained undamaged after the fire Instructions_(show all_calculations), Calculate the amount of the fire loss. Show appropriate titles for all amounts in yourpresentation

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