Multiple Choice Question 103 On April 15 of the current year, a fire destroyed the...
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Accounting
Multiple Choice Question 103 On April 15 of the current year, a fire destroyed the entire uninsured inventory of a retail store. The following data are available:
Sales, January 1 through April 15 $588000
Inventory, January 1 96000
Purchases, January 1 through April 15 490000
Markup on cost 20%
The amount of the inventory loss is estimated to be
$115200.
$98000
. $48000.
$96000.
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