At the end of November, XYZ Ltd, lost its inventory due to fire. Purchases and sales...
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At the end of November, XYZ Ltd, lost its inventory due to fire. Purchases and sales during the month were $119315 and $234034. XYZ Ltd., is fully insured for the fire losses but must prepare a report for the insurance company. The cost of inventory as of October 31 was 37955 and Company's gross profit ratio was 58.7% Calculate the estimated cost of inventory lost in the fire. At the end of November, XYZ Ltd, lost its inventory due to fire. Purchases and sales during the month were $119315 and $234034. XYZ Ltd., is fully insured for the fire losses but must prepare a report for the insurance company. The cost of inventory as of October 31 was 37955 and Company's gross profit ratio was 58.7% Calculate the estimated cost of inventory lost in the fire.
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Related Book For
Foundations of Financial Management
ISBN: 978-1259194078
15th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
Posted Date:
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