Question: A fire on 30 September 20X2 destroyed some of a company's inventory and its inventory records. The following information is available: Inventory 1 September

A fire on 30 September 20X2 destroyed some of a company's inventory

A fire on 30 September 20X2 destroyed some of a company's inventory and its inventory records. The following information is available: Inventory 1 September 20X2 Sales for September 20X2 Purchases for September 20X2 Inventory in good condition at 30 September 20X2 Standard gross profit percentage on sales is 25% Based on this information, what is the value of the inventory lost? $ 318,000 612,000 412,000 214,000

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