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  3. part b is b) compute the cost of goods destroyed,

PART B IS b) Compute the cost of goods destroyed, assuming that the gross profit...

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Accounting

imagePART B IS

b) Compute the cost of goods destroyed, assuming that the gross profit is 33 1/3% of sales

please answer both :)

Current Attempt in Progress Cullumber Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $31,920. Purchases since January 1 were $60,480; freight-in, $2,856; purchase returns and allowances, $2,016. Sales are made at 331/3% above cost and totaled $90,000 to March 9 . Goods costing $9,156 were left undamaged by the fire; remaining goods were destroyed. (a) 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 $ eTextbook and Media Attempts: 0 of 3 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above

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