A flood destroyed a company's warehouse contents on September 12. The following information was the only information that was salvaged: Inventory, beginning: $29,900 Purchases for the period: $18,900 Sales for the period: $56,900 Sales returns for the period: $890 The company's average gross profit ratio is 21%. What is the estimated cost of the lost inventory using the gross profit method?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A flood destroyed a company's warehouse contents on September 12. The following information was the only information that was salvaged: ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Wayfair Corporation produces a part used in the manufacture of one of its products. The unit product cost is $21, computed as follows: Direct materials $ 8 Direct labor 5 Variable manufacturing overhead 3 Fixed manufacturing overhead 5 Unit product
Answers (1)
Monetary policy is limited in its impact when choose one or more:a. a recession is the result of decreased aggregate demand rather than decreased aggregate supply. b. monetary policy is unexpected. c. people adjust their expectations of inflation. d.
Answers (1)
Arco company has two divisions - mixers and food processors. arco company segmented income statements for the current fiscal year ended december 31 mixer food processor division division sales $2,500,000 $1,350,000 cost of goods sold 1,050,000
Answers (1)
using examples in ghana, briefly discuss four roles policy actors have played during coronavirus period
Answers (1)
The Porch Cushion Company manufactures foam cushions. The number of cushions to be produced in the upcoming three months follows:Number of foam cushions to be produced in July 13,000Number of foam cushions to be produced in August 19,000Number of
Answers (1)
New Questions in Business
The valuation of a common stock today primarily depends on:A, the number of shares outstanding and the number of its shareholders. B. its expected future dividends and its discount rate. Ct Wall Street analysts.
Answers (1)
Consider a bp gas station. as a result of an economic recession and decreases in consumer incomes, there will be a:
Answers (1)
You purchased 600 shares of SLG, Inc. stock at a price of $41.20 a share. You then purchased put options on your shares with a strike price of $45.00 and an option premium of $1.10. At expiration, the stock was selling for $48.30 a share.
Answers (1)
Which of the following statement is true? a. The demand for puma shoes is more elastic than the demand for shoes b. The demand for Cheerios is less elastic than the demand for cereal c. Products with many complements have a more elastic demand d.
Answers (1)
What is the par value for an ingredient?
Answers (1)