Stellar Corporations April 30 inventory was destroyed by fire. January 1 inventory was $138,300, and...

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Accounting

Stellar Corporations April 30 inventory was destroyed by fire. January 1 inventory was $138,300, and purchases for January through April totaled $492,100. Sales revenue for the same period were $698,900. Stellars normal gross profit percentage is 35% on sales. Using the gross profit method, estimate Stellars April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $

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