In December 2011, 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 stoleninventory.

Transcribed Image Text:

Jan. 1, 2011 to Date of Theft 2010 Purchases Purchase returns and allowances Sales Sales returns and allowances Salarles $141,670 7,250 275,600 3,400 10,100 $156.430 6,580 283,300 2,900 12.900 Jan. 1, 2011 to Date of Theft 2010 Rent Insurance Utiilties Advertising 5,340 1,030 1,115 4,925 ,890 74,620 $7.120 1,340 1.435 3,741 2.106 69,780 Beginning inventory