Question: Brenda Company reported the following information for November and December

Brenda Company reported the following information for November and December 2014.


Brenda’s ending inventory at December 31 was destroyed in a fire.

Instructions
(a) Compute the gross profit rate for November.
(b) Using the gross profit rate for November, determine the estimated cost of inventory lost in thefire.
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  • CreatedJanuary 30, 2014
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