Poundmaker Company just had a fire in its warehouse that destroyed all of its merchandise inventory. The

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Poundmaker Company just had a fire in its warehouse that destroyed all of its merchandise inventory. The insurance company covers 80% of the loss. The following information is available regarding the year ended March 31, 2014:

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Prepare an estimate of the company's loss using the retail method.
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Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

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