Question
On July 8, a fire destroyed the entire merchandise inventory on hand of Masters Gardening. The following information is available: Sales, January 1 through July
On July 8, a fire destroyed the entire merchandise inventory on hand of Masters Gardening. The following information is available: Sales, January 1 through July 8 700,000 Inventory, January 1 130,000 Purchases, January 1 through July 8 640,000 Gross profit ratio 30% What is the estimated inventory on July 8 immediately prior to the fire?
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Swanson On Internal Auditing Raising The Bar
Authors: IT Governance Publishing
1st Edition
1849280673, 978-1849280679
