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The following information is available for October for Oriole Company. Beginning inventory $430000 Net purchases 1260000 Net sales 2520000 Percentage markup on cost 66.67% A
The following information is available for October for Oriole Company.
Beginning inventory | $430000 |
Net purchases | 1260000 |
Net sales | 2520000 |
Percentage markup on cost | 66.67% |
A fire destroyed Orioles October 31 inventory, leaving undamaged inventory with a cost of $25500. Using the gross profit method, the estimated ending inventory destroyed by fire is
A)$646500.
B)$830000.
C)$152500.
D)$672000.
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