Question: Problem 9 ( 1 0 marks ) SRB Corporation recently suffered a fire in its warehouse. The fire destroyed all of the company's inventory on

Problem 9(10 marks)
SRB Corporation recently suffered a fire in its warehouse. The fire destroyed all of the company's inventory on hand at June 30. The opening inventory on June 1 was $2,625,350. SRB purchased an additional $740,000 during June and had sales of $1,100,000 for the month at a gross profit of 25%.
Required:
Using the gross profit method, estimate the value of the inventory destroyed in the fire.
Problem 9 ( 1 0 marks ) SRB Corporation recently

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