Question
QUESTION 48 A fire destroyed Silver's inventory on 6/4/19. The following information is available: Sales, 1/1 - 6/4 $ 686,000 Inventory, 1/1 132,000 Purchases, 1/1
QUESTION 48
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A fire destroyed Silver's inventory on 6/4/19. The following information is available:
Sales, 1/1 - 6/4 $ 686,000 Inventory, 1/1 132,000 Purchases, 1/1 - 6/4 650,000 Gross profit rate 25 % What is the estimated inventory prior to the fire?
A. $514,500.
B. $162,500.
C. $267,900.
D. $267,500.
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Auditing Advances In Behavioral Research
Authors: Lawrence A. Ponemon, David R.L. Gabhart
1st Edition
0387976191, 978-0387976198
