On July 8, a fire destroyed all of Larrenaga Wholesale Corporation 's merchandise inventory The following information is available Sales, from January 1 to July 8 $700,000 Inventory, January 1 130 000 Shopping, from January 1 to July 8 640 000 gross profit ratio 30 What is the estimated inventory o...

Using the gross profit ratio we can estimate the cost of g ...

On July 8, a fire destroyed all of Larrenaga Wholesale Corporation's merchandise inventory.The following information is available:

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On July 8, a fire destroyed all of Larrenaga Wholesale Corporation's merchandise inventory. The following information is available:

Sales, from January 1 to July 8	$700,000
Inventory, January 1	130.000
Shopping, from January 1 to July 8	640.000
gross profit ratio	30%

What is the estimated inventory on July 8 immediately prior to the fire?

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Intermediate Accounting

ISBN: 978-0077400163

6th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Posted Date: May 09, 2023 02:01 AM

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On July 8, a fire destroyed all of Larrenaga Wholesale Corporation's merchandise inventory.The following information is available:

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