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Skysong lumber company handles three principal lines of merchandise with these varying rates of gross profit on cost Lumber 2 5 % Millwork 3 0

Skysong lumber company handles three principal lines of merchandise with these varying rates of gross profit on cost Lumber 25% Millwork 30% Hardware and fittings 40% on august 18, a fire destroyed the office, lumber shed, and a considerable portion of the lumber stacked in the yard. to file a report of loss fo insurance purposes, the company mist know what the inventories were immediately preceding the fire. no detail or perpetual inventory records of any kind were maintained. the only pertinent information you arer able to obtain are the following facts from the general ledger, which was kept in a fireproof vault and thus escaped destruction Inventory Jan 12025 lumber 249800 millwork 88600 hardware 45800 purchases to Aug. 1820251488200380300162900 sales revenue to aug 182025205560049400211400 submit your estimate of the inventory amounts immediately preceding the fire

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