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