nabiled: Exam it: CH $4,5,6($

Sinemet

A flood destroyed a company's warehouse contents on September $12.$ The following infomation was the only information that was salvaged:

Inventary, beginning: $$28,500$

Purchases for the periad: $$17,500$

Seles for the period: $$55,500$

Sales returns for the period: $$750$

The company's average gross profit ratio is $40\%.$ What is the estimated cost of the lost inventory using the gross profit method?

Multiple Choice

$$13,150\mathrm{.}00.$

$$45,000\mathrm{.}00.$

$$24,100\mathrm{.}00.$

$$46,000\mathrm{.}00.$

$$27,600\mathrm{.}00.$