Question 14

A fire destroys all of the merchandise of Sarasota Company on February 10, 2017. Presented below is information compiled up to the date of the fire. Inventory, January 1, 2017 $435,100 Sales revenue to February 10, 2017 1,928,500 Purchases to February 10, 2017 1,116,150 Freight-in to February 10, 2017 57,330 Rate of gross profit on selling price 45% What is the approximate inventory on February 10, 2017?

Inventory at February 10, 2017 $__________________