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Question 22 A company had a fire; their accounting records reflected the following: Beginning inventory cost was $145,000. During the month, they purchased inventory that
Question 22 A company had a fire; their accounting records reflected the following: Beginning inventory cost was $145,000. During the month, they purchased inventory that cost $60,000. Sales that month were $175,000. Estimated gross profit is 40%. What is the estimated ending inventory that was lost? $100,000 $135,000 $70,000 $90,000
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