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Question #4 A storm destroyed Moses Company's factory on December 23, 2018. After the storm,...

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Question #4 A storm destroyed Moses Company's factory on December 23, 2018. After the storm, inventory with a value of $360,000 were saved. The below information was available from the company's books and records. $ 1,300,000 1,600,000 80,000 160,000 Inventory, 1/1/18 Purchases (as of 12/23/18) Purchases returns and allowances Freight-in Sales (as of 12/23/18) Sales discounts 2,490,000 90,000 In addition, Moses Company had a 6-year average of gross profit of s7,000,000 and net sales of S10,000,000. Required Using the gross profit method, prepare a well-labeled schedule, to calculate Moses Company's inventory loss due to the storm

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