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On September 22, 2024, a flood destroyed the entire merchandise inventory on hand In a warehouse owned by the Rocklin Sporting Goods Company. The following

On September 22, 2024, a flood destroyed the entire merchandise inventory on hand In a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Required: Complete the below table to estimate the cost of Inventory destroyed in the flood using the gross profit method

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