A fired completely destroyed the entire inventory of Printing Delight Co on March 15, 20__. Fortunately, the books were not destroyed in the fire. The following information is taken from the books of Printing Delight Co. for the time period, January 1, 20__ through March 15, 20__:

 

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Beginning inventory, January 1, 20 Net purchases, January 1, through March 15, 20 Net sales, January 1, through March 15, 20 Normal gross profit percentage of sales $ 45,000 252,000 378,000 37% Required: 1. Estimate the cost of goods sold for the time period January 1 through March 15, 20 using the gross profit method. Estimate the amount of merchandise inventory destroyed in the fire on March 15, 20 gross profit method. 2. using the Beginning inventory, January 1, 20 Net purchases, January 1, through March 15, 20 Net sales, January 1, through March 15, 20 Normal gross profit percentage of sales $ 45,000 252,000 378,000 37% Required: 1. Estimate the cost of goods sold for the time period January 1 through March 15, 20 using the gross profit method. Estimate the amount of merchandise inventory destroyed in the fire on March 15, 20 gross profit method. 2. using the

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