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The following information is available for October for Decko Company. Beginning inventory $ 50,000 Net purchases 150,000 Net sales 300,000 Percentage markup on cost 66.67%

The following information is available for October for Decko Company.

Beginning inventory $ 50,000

Net purchases 150,000

Net sales 300,000

Percentage markup on cost 66.67%

A fire destroyed Deckos October 31 inventory, leaving undamaged inventory with a cost of $3,000. Using the gross profit method, the estimated ending inventory destroyed by fire is $

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