Question
Skysong Corporations April 30 inventory was destroyed by fire. January 1 inventory was $145,300, and purchases for January through April totaled $452,200. Sales revenue for
Skysong Corporations April 30 inventory was destroyed by fire. January 1 inventory was $145,300, and purchases for January through April totaled $452,200. Sales revenue for the same period were $694,400. Skysongs normal gross profit percentage is 30% on sales. Using the gross profit method, estimate Skysongs April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in ?
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Issues In Management Accounting
Authors: Trevor Hopper, Robert W. Scapens, Deryl Northcott
3rd Edition
0273702572, 978-0273702573
