On March 15, a fire destroyed Interlock Company's a large portion of the firm’s inventory. The inventory on hand as of...
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On March 15, a fire destroyed Interlock Company's a large portion of the firm’s inventory. The inventory on hand as of...
On March 15, a fire destroyed Interlock Company's entire retail inventory. The inventory on hand as...
On March 15, a fire destroyed Interlock Company's entire retail inventory. The inventory on hand as of January 1 totaled $3,800,000. From January 1 through the time of the fire, the company made purchases of $2,500,000 , and had sales of $2,820,000. Assuming the rate of gross profit to selling price is 40%, what is the approximate value of the inventory that was destroyed?
On March 15, a fire destroyed Interlock Company's entire retail inventory. The inventory on hand as...
On March 15, a fire destroyed Interlock Company's entire retail inventory. The inventory on hand as of January 1 totaled $3,300,000. From January 1 through the time of the fire, the company made purchases of $1,366,000, incurred freight-in of $156,000, and had sales of $2,420,000. Assuming the rate of gross profit to selling price is 30%, what is the approximate value of the inventory that was destroyed?
on october 31, a fire destroyed pharaoh inc.’s entire retail inventory. on hand as of january...
on october 31, a fire destroyed pharaoh inc.’s entire retail
inventory. on hand as of january 1 totaled $2680000. From january
through the time of the fire, the company made purchases of $636000
and had sales of $1408000. Assuming the rate of gross profit to
selling price is 40%, what is the approximate value of the
inventory that was destroyed?
On October 31, afre destroyed Pharoah Inc.'s entire retail inventory. The inventory on hand as of January 1 totaled $2680000....
On October 31, a fire destroyed Cullumber Inc.'s entireretail inventory. The inventory on hand as of...
On October 31, a fire destroyed Cullumber Inc.'s entireretail inventory. The inventory on hand as of January 1 totaled $2780000. From January 1 through the time of the fire, the company made purchases of $696000 and had sales of $1488000. Assuming the rate of gross profit to selling price is 30% what is the approximate value of the inventory that was destroyed $2434400 $3029600 O 51738400 52780000
On October 31, a fire destroyed Pharoah Inc.'s entire retail inventory. The inventory on hand as...
On October 31, a fire destroyed Pharoah Inc.'s entire retail inventory. The inventory on hand as of January 1 totaled $2740000. From January 1 through the time of the fire, the company made purchases of $672000 and had sales of $1456000. Assuming the rate of gross profit to selling price is 25%, what is the approximate value of the inventory that was destroyed? $1648000. $2320000. $2740000. $3048000.
One of Wells Company's retail outlets was destroyed by fire on March 18. All merchandise was...
One of Wells Company's retail outlets was destroyed by fire on March 18. All merchandise was burned. The company has fire insurance on its merchandise inventory. It will therefore file a claim for recovery of the cost of the lost inventory. Clearly, a physical inventory cannot be taken because the inventory has been destroyed. The branch's records were kept by the home office, and you have been asked to examine the records to determine an estimate of the cost of...
Che Quebec Traffic Company had a fire on March 10, 2020, that destroyed a major portion...
Che Quebec Traffic Company had a fire on March 10, 2020, that destroyed a major portion of its inventory. The salvaged accounting records contained the following information: Sales, January 1 to March 10 $ 345,600 Net merchandise purchased January 1 to March 10 177,400 Additional information was determined from the 2019 annual report: Income statement: Sales $3,280,000 Cost of goods sold 1,869,600 Balance sheet: Merchandise inventory 289,100 Quebec Traffic was able to salvage inventory with a cost of $106,100. Required:...
Vaughn Corporation’s April 30 inventory was destroyed by fire. January 1 inventory was $138,300, and purchases...
Vaughn Corporation’s 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 was $698,900. Vaughn’s normal gross profit percentage is 35% on sales. Using the gross profit method, estimate Vaughn’s April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire
Windsor Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $154,200, and purchases...
Windsor Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $154,200, and purchases for January through April totaled $525,400. Sales revenue for the same period was $687,900. Windsor's normal gross profit percentage is 30% on sales. Using the gross profit method, estimate Windsor's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $
Blue Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $155,000, and purchases...
Blue Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $155,000, and purchases for January through April totaled $467,300. Sales revenue for the same period was $684,500. Blue's normal gross profit percentage is 25% on sales. Using the gross profit method, estimate Blue's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $
on october 31, a fire destroyed pharaoh inc.’s entire retail
inventory. on hand as of january 1 totaled $2680000. From january
through the time of the fire, the company made purchases of $636000
and had sales of $1408000. Assuming the rate of gross profit to
selling price is 40%, what is the approximate value of the
inventory that was destroyed?
On October 31, afre destroyed Pharoah Inc.'s entire retail inventory. The inventory on hand as of January 1 totaled $2680000....
On October 31, a fire destroyed Cullumber Inc.'s entireretail inventory. The inventory on hand as of January 1 totaled $2780000. From January 1 through the time of the fire, the company made purchases of $696000 and had sales of $1488000. Assuming the rate of gross profit to selling price is 30% what is the approximate value of the inventory that was destroyed $2434400 $3029600 O 51738400 52780000
One of Wells Company's retail outlets was destroyed by fire on March 18. All merchandise was burned. The company has fire insurance on its merchandise inventory. It will therefore file a claim for recovery of the cost of the lost inventory. Clearly, a physical inventory cannot be taken because the inventory has been destroyed. The branch's records were kept by the home office, and you have been asked to examine the records to determine an estimate of the cost of...
Che Quebec Traffic Company had a fire on March 10, 2020, that destroyed a major portion of its inventory. The salvaged accounting records contained the following information: Sales, January 1 to March 10 $ 345,600 Net merchandise purchased January 1 to March 10 177,400 Additional information was determined from the 2019 annual report: Income statement: Sales $3,280,000 Cost of goods sold 1,869,600 Balance sheet: Merchandise inventory 289,100 Quebec Traffic was able to salvage inventory with a cost of $106,100. Required:...
Windsor Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $154,200, and purchases for January through April totaled $525,400. Sales revenue for the same period was $687,900. Windsor's normal gross profit percentage is 30% on sales. Using the gross profit method, estimate Windsor's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $
Blue Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $155,000, and purchases for January through April totaled $467,300. Sales revenue for the same period was $684,500. Blue's normal gross profit percentage is 25% on sales. Using the gross profit method, estimate Blue's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $
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