q24 A company's warehouse contents were destroyed by a flood...
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Accounting
q24
A company's warehouse contents were destroyed by a flood on September 12. The following information was the only information that was salvaged: 1. Inventory, beginning: $29,600 2. Purchases for the period: $18,600 3. Sales for the period: $56,600 4. Sales returns for the period: $860 The company's average gross profit ratio is 24%. What is the estimated cost of the lost inventory? Multiple Choice $48,200.00. $47,200.00. $34,822.40. $36,632.00. $5,837.60
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