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Reported the following info for Nov & Dec 2020. NOV DEC Cost of goods purchase $. 518,000 714, 000 Inventory Beginning of month 117, 000
Reported the following info for Nov & Dec 2020.
NOV | DEC | |
Cost of goods purchase | $. 518,000 | 714, 000 |
Inventory Beginning of month | 117, 000 | 59, 540 |
Inventory. End of month | 59, 540 | ? |
sales revenue | 834, 000 | 921, 000 |
ending inventory at DEC 31 was destroyed
Using the gross profit rate for NOV,, determine the estimated cost of inventory lost (Round answer to 0 decimal places)
Estimated cost of ending inventory? $_____?______
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