Question: Please show ur work Question 5 Flint Corp. lost most of its inventory in a fire in December, just before the year-end physical inventory was

Please show ur work

Question 5 Flint Corp. lost most of its inventory in a fire in December, just before the year-end physical inventory was taken. The corporation's books disclosed the following: Beginning inventory $450,000 Sales $1,329,000 Purchases for the year 820,000 Sales returns 51,000 Purchase returns 61,000 Gross margin on sales 43% Merchandise with a selling price of $42,000 remained undamaged after the fire. Damaged merchandise with an original selling price of $29,000 had a net realizable value of $9,600. (a) Calculate the amount lost because of the fire, assuming that the corporation had no insurance coverage. Loss of inventory due to fire $

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