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The Jamison Company's inventory was destroyed on July 4, 2016, when its warehouse caught on fire early in the morning. Inventory was totally destroyed. The

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The Jamison Company's inventory was destroyed on July 4, 2016, when its warehouse caught on fire early in the morning. Inventory was totally destroyed. The accounting records, which were located in a fireproof vault, contained the following information: Sales (1/1/16 through 7/3/16) Purchases (1/1/16 through 7/3/16) Inventory (1/1/16) Gross profit ratio $240,000 180,000 45,000 25% of cost Using the gross profit method, what is the estimated cost of the inventory that was destroyed by the fire? O$23,250 O $33,000 O$45,000 O$15,000

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