You are called by Tim Duncan of Pearl Co. on July 16 and asked to prepare a claim for insurance as a result of a theft that took place the night before. You suggest that an inventory be taken immediately. The following data are available.

Inventory, July 1		$ 35,500
Purchasesgoods placed in stock July 115		92,400
Sales revenuegoods delivered to customers (gross)		113,200
Sales returnsgoods returned to stock		4,300

Your client reports that the goods on hand on July 16 cost $32,000, but you determine that this figure includes goods of $5,700 received on a consignment basis. Your past records show that sales are made at approximately 40% over cost. Duncans insurance covers only goods owned.

Send to Gradebook --/1 Question 4 View Policies Current Attempt in Progress You are called by Tim Duncan of Pearl Co. on July 16 and asked to prepare a claim for insurance as a result of a theft that took place the night before. You suggest that an inventory be taken immediately. The following data are available. Inventory, July 1 Purchases-goods placed in stock July 1-15 Sales revenue-goods delivered to customers (gross) Sales returns-goods returned to stock $ 35.500 92,400 113,200 4,300 Your client reports that the goods on hand on July 16 cost $32,000, but you determine that this figure includes goods of $5,700 received on a consignment basis. Your past records show that sales are made at approximately 40% over cost. Duncan's insurance covers only goods owned. Compute the claim against the insurance company. (Round ratios for computational purposes to 2 decimal places, e.g. 78.73% and final answer to O decimal places, eg. 28,987.) Claim against the insurance company $ e Textbook and Media Attempts: 0 of 3 used Save for Later Submit Answer Send to Gradebook