Question: Suzuki Company lost all of its inventory in a fire on December 26, 2017. The accounting records showed the following gross profit data for November

Suzuki Company lost all of its inventory in a fire on

Suzuki Company lost all of its inventory in a fire on December 26, 2017. The accounting records showed the following gross profit data for November and December. Suzuki is fully insured for fire losses but must prepare a report for the insurance company. Compute the gross profit rate for November. Using the gross profit rate for November, determine the estimated cost of the inventory lost in the fire

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