The following information is available for October for Blossom Company Beginning inventory $450000 Net purchases 1250000 Net sales 2500000 Percentage markup on cost 66 67 A fire destroyed Blossoms October 31 inventory, leaving undamaged inventory with a cost of $26000 Using the gross profit method, the estimated ending inventory destroyed by fire is $640667 $800000 $174000 $666667

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The following information is available for October for Blossom Company. Beginning inventory $450000 Net purchases 1250000 Net sales 2500000 Percentage markup on cost 66.67% A

The following information is available for October for Blossom Company.

Beginning inventory	$450000
Net purchases	1250000
Net sales	2500000
Percentage markup on cost	66.67%

A fire destroyed Blossoms October 31 inventory, leaving undamaged inventory with a cost of $26000. Using the gross profit method, the estimated ending inventory destroyed by fire is

$640667.

$800000.

$174000.

$666667.

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