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Looking for a solution to this questionConfucius Bookstores inventory is destroyed by a fire on September 5. The following data for the current year are available

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Solution:

Beginning Inventory 190000
Add: Purchases 352000
Total cost of goods available for sale 542000
Less: cost of goods sold [658000*(1-0.44)] 383600
Estimated September 5 inventory destroyed 158400
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