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Question #3 (7 Points) A fire destroyed Perez Corporation's factory on December 21, 2021. After the fire, inventory with a value of $30,000 were saved.

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Question #3 (7 Points) A fire destroyed Perez Corporation's factory on December 21, 2021. After the fire, inventory with a value of $30,000 were saved. The below information was available from the company's general ledger. Inventory, 1/1/21 $ 80,000 Purchases (as of 12/21/21) 290,000 Purchases returns and allowances 33,000 Freight-in 5,000 Sales (as of 12/21/21) 415,000 Sales discounts 21,000 In addition, Perez Corporation had a gross profit based on net sales of 35%. Required: Using the gross profit method, prepare a well-labeled schedule, to calculate Perez Corporation's inventory loss due to the fire

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