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Exercise 9-15 Sandhill Legler requires an estimate of the cost of goods lost by fire...

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Exercise 9-15 Sandhill Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $46,360. Purchases since January 1 were $87,840; freight-in, $4,148; purchase returns and allowances, $2,928. Sales are made at 33 1/3% above cost and totaled $144,000 to March 9. Goods costing $13,298 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to 0 decimal places, e.g. 15% or 125.) Cost of goods destroyed Compute the cost of goods destroyed, assuming that the gross profit is 33 1/3% of sales. (Round ratios for computational purposes to 5 decimal places, e.g. 78.72345% and final answer to 0 decimal places, e.g. 28,987.) Cost of goods destroyed

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