Question: 9. Petcetera had a robbery on the weekend in which a large amount of inventory was taken. The loss is covered completely by insurance. A

9. Petcetera had a robbery on the weekend in which a large amount of inventory was taken. The loss is covered completely by insurance. A physical inventory count determined that the cost of the remaining merchandise is $58,500. The following additional information is available: .... at cost ...... Beginning merchandise inventory .... : 75,000 at retail 93,750 Purchase returns and allowances.............. at cost : 15,000 at retail 20,000 Purchases ..... .... at cost : 1,275,000 at retail 1,731,250 at cost : Transportation-in...... 18,750 Sales ...... 93,750 ... at retail .... retail Sales returns and allowances..... 93,750

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