Petcetera had a robbery on the weekend in which a large amount of inventory was taken. The
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Petcetera had a robbery on the weekend in which a large amount of inventory was taken. The loss is totally covered by insurance. A physical inventory count determined that the cost of the remaining merchandise is $58,500. The following additional information is available:
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1. Prepare an estimate of ending merchandise inventory using the retail method.
2. Calculate the cost of the stolen inventory.
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Related Book For 
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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