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V. On September 30, 2023, Olmos Company's inventory burned. Sales and purchases for the year had been $1,000,000 and $650,000, respectively. The beginning inventory (Jan.
V. On September 30, 2023, Olmos Company's inventory burned. Sales and purchases for the year had been $1,000,000 and $650,000, respectively. The beginning inventory (Jan. 1, 2023) was $120,000; in the past Olmos's gross profit has averaged 30% of the selling price. Instructions Compute the estimated cost of inventory burned
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CIA Part 3 Business Knowledge For Internal Auditing 2021
Authors: MUHAMMAD ZAIN
1st Edition
B09B23JKZ8, 979-8739475527
