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on july 8, a fire destroyed the entire inventory on hand of a company. the...

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Accounting

On July 8, a fire destroyed the entire inventory on hand of a company. The following information is available: Sales, January 1 through July 8 $ 687,000 Inventory, January 1 138,000 Purchases, January 1 through July 8 659,000 Gross profit ratio 27% What is the estimated inventory on July 8 immediately prior to the fire

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