Question: Suzuki Company lost all of its inventory in a fire

Suzuki Company lost all of its inventory in a fire on December 26, 2014. The accounting records showed the following gross profit data for November and December.


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


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  • CreatedJanuary 30, 2014
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