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Required information [The following information applies to the questions displayed below.] The inventory of Don's Grocery was destroyed by a tornado on October 6 of

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Required information [The following information applies to the questions displayed below.] The inventory of Don's Grocery was destroyed by a tornado on October 6 of the current year. Fortunately, some of the accounting records were at the home of one of the owners and were not damaged. The following information was avallable for the period of January 1 through October 6 : Gross margin for Don's has traditionally been 30 percent of sales. 2. Assume that $10,600 of the inventory was net damaged. What is the amount of the loss from the tornado? Required a. For the period ending October 6 , compute the following: b. Assume that $10,600 of the inventory was net damaged. What is the amount of the loss from the tornado

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