On August 31, a hurricane destroyed a retail location of Carla Vista's Clothier including the entire inventory on hand at the location. The inventory on hand as of June 30 totaled $1895000. Since June 30 until the time of the hurricane, the company made purchases of $495000 and had sales of $1480000. Assuming the rate of gross profit to selling price is 40%, what is the approximate value of the inventory that was destroyed

$1,502,000

Explanation:

The destroyed stock is the closing stock on August 31.

Cost of Goods sold = Opening stock + Purchases - Closing stock

Closing stock = Opening stock + Purchases - Cost of Goods sold

Opening stock = $1,895,000

Purchases = $495,000

Gross profit is 40% of sales so Cost of Goods sold must be 60%;

= 60% * 1,480,000

= $888,000

Closing stock = 1,895,000 + 495,000 - 888,000

= $1,502,000

idk the answer so dont listen too me

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.