Business, 18.03.2021 01:30 Chrisis5143

The inventory of Pina Colada Corp. was destroyed by fire on March 1. From an examination of the accounting records, the following data for the first 2 months of the year are obtained: Sales Revenue $53,000, Sales Returns and Allowances $1,100, Purchases $32,500, Freight-In $1,300, and Purchase Returns and Allowances $1,700. Determine the merchandise lost by fire, assuming: A beginning inventory of $19,500 and a gross profit rate of 45% on net sales. Estimated cost of merchandise lost $enter the Estimated cost of lost merchandise in dollars eTextbook and Media A beginning inventory of $32,500 and a gross profit rate of 30% on net sales. Estimated cost of merchandise lost

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The inventory of Pina Colada Corp. was destroyed by fire on March 1. From an examination of the acco...

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