vision sets, $660 each. moving g *E6.20 (LO 6), AP The inventory of Hang Company was destroyed by fire on March 1. From an examina- tion of the accounting records, the following data for the first 2 months of the year are obtained: Sales Revenue $51,000, Sales Returns and Allowances $1,000, Purchases $31,200, Freight-In $1,200, and Pur- chase Returns and Allowances $1,400. Instructions Determine the merchandise lost by fire, assuming: a. A beginning inventory of $20,000 and a gross profit rate of 30% on net sales. b. A beginning inventory of $30,000 and a gross profit rate of 40% on net sales. *E6.21 (LO 6), AP Kicks Shoe Store uses the retail inventory method for its two departments, Women's Shoes and Men's Shoes. The following information for each department is obtained. lortu Item Beginning inventory at cost Cost of goods purchased at cost Net sales Beginning inventory at retail Cost of goods purchased at retail Women's Shoes $ 25,000 110,000 178,000 46,000 179,000 Men's Shoes $ 45,000 136,300 185,000 60,000 185,000 Determine merchand the gross profit metho inventory. Determine ending using retail metho. Excel

-B6.20 (LO 6), AP The inventory of Hang Company was destroyed by fire on March 1. From an examinatlon of the accounting records, the following data for the first 2 monthis of the year are obtained: Sales Revenue $51,000, Sales Returns and Allowances $1,000, Purchases $31,200. Freight-In $1,200, and Pur- Determine menchand the goos profit meth chase Returns and Allowances $1,400. inventop: Instructions Determine the merchandise lost by fire, assuming: a. A beginning inventory of $20,000 and a gross profit rate of 30% on net sales. b. A beginning inventory of $30,000 and a gross profit rate of 40% on net sales. 'E6.21 (LO 6), AP Kicks Shoe Store uses the retail inventory method for its two departments, Women's Shoes and Men's Shoes. The following information for each department is obtained. Determine ending using retail metho 46.20 (LO 6), AP The inventory of Hang Company was destroyed by fire on March 1. From an examinagan of the accounting records, the following data for the first 2 months of the year are obtained: Sales Renenue $51,000, Sales Returns and Allowances $1,000, Purchases $31,200, Freight-In $1,200, and Purchase Returns and Allowances $1,400. instructions Determine the merchandise lost by fire, assuming: 2. A beginning inventory of $20,000 and a gross profit rate of 30% on net sales. b. A beginning inventory of $30,000 and a gross profit rate of 40% on net sales. 966.21 (LO 6), AP Kicks Shoe Store uses the retail inventory method for its two departments, Women's Shoes and Men's Shoes. The following information for each department is obtained. Enter text or formula here