In December 2015, JB Masterpiece Merchandise Inc. had a significant portion of its inventory stolen. The company determined the cost of inventory remaining to be $32,400. The following information was taken from the records of the company:

Instructions:
Estimate the cost of the stolen inventory.

Transcribed Image Text:

Jan. 1, 2015 to Date of Theft 2014 Purchases Purchase returns and allowances Sales Sales returns and allowances Salaries. Rent Insurance Utilities. Advertising Depreciation expense Beginning inventory $141,670 7,250 275,600 3,400 10,100 5,340 1,030 1,115 4,925 1,890 74,620 $156,430 6,580 283,300 2,900 12,900 7,120 1,340 1,435 3,741 2,106 69,780