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Swifty Corporations April 30 inventory was destroyed by fire. January 1 inventory was $155,900, and...

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Accounting

Swifty Corporations April 30 inventory was destroyed by fire. January 1 inventory was $155,900, and purchases for January through April totaled $529,000. Sales revenue for the same period were $654,700. Swiftys normal gross profit percentage is 30% on sales. Using the gross profit method, estimate Swiftys April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $

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