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The following information is available for October for Barton Company Beginning inventory $350,000 Net purchases 1050 000 Net sales 2.100.000 Percentage of Gross Profit 40.00%

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The following information is available for October for Barton Company Beginning inventory $350,000 Net purchases 1050 000 Net sales 2.100.000 Percentage of Gross Profit 40.00% A fire destroyed Barton's October 31 Inventory, leaving undamaged inventory with a cost of 521.000 Using the gross profit method, the estimated ending inventory destroyed by fire is $119.000 $140.000 $500.000 5840.000

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