Question

Exercise 9-18 Blossom Lumber Company handles three principal lines of merchandise with these varying rates of gross profit on cost. Lumber Millwork 25% 30% 40% Hardware and fittings On August 18, a fire destroyed the office, lumber shed, and a considerable portion of the lumber stacked in the yard. To file a report of loss for insurance purposes, the company must know what the inventories were immediately preceding the fire. No detail or perpetual inventory records of any kind were maintained. The only pertinent information you are able to obtain are the following facts from the general ledger, which was kept in a fireproof vault and thus escaped destruction. Inventory, Jan. 1, 2017 Purchases to Aug. 18, 2017 Sales to Aug. 18, 2017 Lumber Millwork Hardware $251,500 $90,700 1,517,100 377,800 2,062,200 548,600 $45,200 158,400 221,200 Submit your estimate of the inventory amounts imrnediately preceding the fire. (Round ratios for computational purposes to 5 decimal places, e.g. 78.74265% and final answers to 0 decim places, e.g. 28,987.) Lumber Millwork Hardware Inventory s

Answer 1