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Sunland Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $145,700, and purchases for January through April totaled $482,600. Sales revenue for
Sunland Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $145,700, and purchases for January through April totaled $482,600. Sales revenue for the same period was $689,100. Sunland's normal gross profit percentage is 25% on sales. Using the gross profit method, estimate Sunland's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $
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