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Suppose Riverbed, Inc., lost its entire inventory in a hurricane. Beginning inventory was $ 47 comma 000, net purchases totaled $ 536 comma 000, and
Suppose Riverbed, Inc., lost its entire inventory in a hurricane. Beginning inventory was $ 47 comma 000, net purchases totaled $ 536 comma 000, and sales came to $ 895 comma 000. Riverbed's normal gross profit percentage is 49 percent. Use the gross profit method to estimate the cost of the inventory lost in the hurricane
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