The following information is available for October for Jordan Company Beginning Inventory Purchases Purchase Retums...
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The following information is available for October for Jordan Company Beginning Inventory Purchases Purchase Retums S100,000 165,000 15,000 Sales Sales Returns Percentage Markup on Cost $320,000 20.000 50% A fire destroyed most of Jordan's October 31 inventory, leaving undamaged inventory with a cost of $3,000. Using the gross profit method, the estimated ending inventory destroyed by fire is: Select one: a. $3,000 b. $50,000 c. $97.000 d. $47.000 e. $147,000
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