Raynor Company lost most of its inventory in a fire just before the company was...
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Raynor Company lost most of its inventory in a fire just before the company was to take it's yearend physical inventory. The company's records disclosed the following. Merchandise with a selling price of $ was not damaged by the fire. The damaged merchandise has a net realizable value of $ Required: Prepare a schedule computing the fire loss Do not use the retail inventory method 
Raynor Company lost most of its inventory in a fire just before the company was to take
it's yearend physical inventory. The company's records disclosed the following.
Merchandise with a selling price of $ was not damaged by the fire. The
damaged merchandise has a net realizable value of $
Required:
Prepare a schedule computing the fire loss Do not use the retail inventory method
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