Crane Company reported the following information for November and December 2022. Cost of goods purchased...
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Crane Company reported the following information for November and December 2022. Cost of goods purchased Inventory, beginning-of-month Inventory, end-of-month Sales revenue November $536.000 124.000 136,010 859.000 December $ 606,000 136,010 ? 1,000,000 Crane's ending inventory at December 31 was destroyed in a fire.
Crane Company reported the following information for November and December 2022. Crane's ending inventory at December 31 was destroyed in a fire. Compute the gross profit rate for November. Gross profit rate % Attempts b). Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire. Estimated cost of ending inventory
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