Question
QUESTION 47 A hurricane destroyed Hunter's inventory on 9/9/19. The following information is available: Sales, 1/1 - 9/9 $ 698,000 Beginning inventory 131,000 Purchases, 1/1
QUESTION 47
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A hurricane destroyed Hunter's inventory on 9/9/19. The following information is available:
Sales, 1/1 - 9/9 $ 698,000 Beginning inventory 131,000 Purchases, 1/1 - 9/9 653,000 Gross profit rate 25 % What is the estimated inventory prior to the hurricane?
A. $523,500.
B. $260,700.
C. $163,250.
D. $260,500.
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Financial Accounting Working Papers Tools For Business Decision Making
Authors: Paul D. Kimmel ,Jerry J. Weygandt ,Donald E. Kieso
6th Edition
0470887931, 978-0470887936
