CALCULATOR PRINTER VERSION 4 BACK Exercise 9-18 Sheffield Lumber Company handles three principal lines of merchandise with these varying rates of gross profit on cost. Lumber Millwork Hardware and fittings 25% 30% 40% On August 18, a fire destroyed the office, lumber shed, and a considerable portion of the lumber stacked in the yard. To file a report of loss for insurance purposes, the company mus know what the inventories were immediately preceding the fire. No detail or perpetual inventory records of any kind were maintained. The only pertinent information you are able to obtain are the following facts from the general ledger, which was kept in a fireproof vault and thus escaped destruction. Lumber Millwork Hardware Inventory, Jan. 1, 2020 $250,400 $90,800 $45,800 Purchases to Aug. 18, 2020 1,499,100 380,500 158,000 Sales to Aug. 18, 2020 2,093,500 479,700 198,800 Submit your estimate of the inventory amounts immediately preceding the fire. (Round ratios for computational purposes to 5 decimal places, e.g. 78.74265% and final answers to o decimal places, e.g. 28,987.) Lumber Millwork Hardware Inventory Click if you would like to Show Work for this question: Open Show Work