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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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