Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 9-9 b coronado corporations april 30 inventory was

9-9 B Coronado Corporations April 30 inventory was destroyed by fire. January 1 inventory was...

60.1K

Verified Solution

Question

Accounting

9-9 B

Coronado Corporations April 30 inventory was destroyed by fire. January 1 inventory was $155,900, and purchases for January through April totaled $529,000. Sales revenue for the same period were $654,700. Coronados normal gross profit percentage is 30% on sales. Using the gross profit method, estimate Coronados April 30 inventory that was destroyed by fire.

Estimated ending inventory destroyed in fire

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Hi guys, ASAP please answer the question thank you so much!! A cyclist travelling at 8.0...

Physics
1.2K views

91 In the circuit given here the points A B and Care 70 V zero...

Physics
1.2K views

5 Equation of wave is given by y 10 mm sin 2 500 sec t...

Basic Math
1.2K views

21 Median Work out the median for each group of numbers 3 5 8 9...

Accounting
1.2K views

on july 1, 2019, farm fresh industries purchased a specialized delivery truck for $219,000. at...

Accounting
1.2K views

___________are the quantitative expressions of plans stated in either physical or functional terms or both....

Accounting
1.2K views

Westerville Company reported the following results from last years operations: ...

Accounting
1.2K views

Parker Inc. has the following cash balances: First Bank: Second Bank: Third Bank: Fourth Bank...

Finance
1.2K views

Estimate the per-share value of Eli Lilly (LLY) common stock. Obtain all necessary data from...

Accounting
1.2K views

Jed Clampett has approached you regarding one of his many oilwells. Jed has owned this...

Finance
1.2K views

Carol Cagle has a repetitive manufacturing plant producing trailer hitches in Arlington, Texas. The plant...

Accounting
1.2K views

I need help for this please. Data table Data table