Question: Young Company, a camera store, lost some inventory in a fire on December 15 . To file an insurance claim, the company must estimate its

Young Company, a camera store, lost some inventory in a fire on December 15 . To file an insurance claim, the company must estimate its December 15 inventory using the gross profit method. For the past two years, Young Company's gross profit has averaged 43% of net sales. Its inventory records reveal the following data: (Click the icon to view the data.) Read the requirements. Data table

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