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Snostorm co lost its entire inventory in a flood on December 31st20XX. The accounting record shows the following gross profit data for November and December.

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Snostorm co lost its entire inventory in a flood on December 31st20XX. The accounting record shows the following gross profit data for November and December. The loss is fully recoverable from the insurance company. Prepare an estimate of the loss using the gross profit method. (Show all calculations)

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