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The following information is available for October for Green Company. Beginning inventory $350,000 Net purchases 1,050,000 Net sales 2,100,000 Percentage markup on cost 66.67% A

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The following information is available for October for Green Company. Beginning inventory $350,000 Net purchases 1,050,000 Net sales 2,100,000 Percentage markup on cost 66.67% A fire destroyed Green's October 31 Inventory, leaving undamaged inventory with a cost of $21,000. Using the gross profit method, the estimated ending inventory destroyed by fire is A. $119,000. B. $539,000 C. $560,000 D. 5700,000

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