McGriff requires an estimate of the cost of goods lost by fire on March 9....
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Accounting
McGriff requires an estimate of the cost of goods lost by fire on March Merchandise on hand on January was $ Purchases since January were $freightin $ purchase returns and allowances, $ Sales are made at above cost and totaled to March Goods costing $ were left undamaged by the fire; remaining goods were destroyed. Instructions a Compute the cost of goods destroyed. b Compute the cost of goods destroyed, assuming that the gross profit is of sales. 
McGriff requires an estimate of the cost of goods lost by fire on March
Merchandise on hand on January was $
Purchases since January were $freightin $
purchase returns and allowances, $ Sales are made at
above cost and totaled to March Goods costing $
were left undamaged by the fire; remaining goods were destroyed.
Instructions
a Compute the cost of goods destroyed.
b Compute the cost of goods destroyed, assuming that the gross profit is
of sales.
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