Question: Ch8 Relative Sales Value & Gross Profit Method Q4 View Policies Show Attempt History Current Attempt in Progress ie Your answer is incorrect Crane Company

Ch8 Relative Sales Value & Gross Profit Method Q4

View Policies Show Attempt History Current Attempt in Progress ie Your answer is incorrect Crane Company lost most of its inventocy in a fire in December just before the year-end physical irventory was taken The corporation's books disclosed the following Merchandise with selling price of $22,200 remained undamaged after the fire. Damaged merchandise with an original selling price of $14.700 had a net realizable value of $5.400. Compute the amount of the loss as a result of the fire assurning that the corporation had no invurance coverage

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