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please fill outt with these numbers and show working. Culver Company lost most of its inventory in a fire in December just before the year-end
please fill outt with these numbers and show working.
Culver Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. Corporate records disclose the following. Merchandise with a selling price of $30,600 remained undamaged after the fire, and damaged merchandise has a net realizable value of $8,300. The company does not carry fire insurance on its inventory. Compute the fire loss incurred. (Do not use the retail inventory method.) Inventory fire loss $Step by Step Solution
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