Business, 20.01.2020 23:31 abbiiee

On may 2, a fire destroyed the entire merchandise inventory on hand of sanchez wholesale corporation. the following information is available: sales, january 1 through may 2 $ 360,000 inventory, january 1 80,000 merchandise purchases, january 1 through may 2 (including $40,000 of goods in transit on may 2, shipped f. o.b. shipping point) 330,000 markup percentage on cost 20% what is the estimated inventory on may 2 immediately prior to the fire?

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On may 2, a fire destroyed the entire merchandise inventory on hand of sanchez wholesale corporation...

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