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The inventory of Bramble's Merchandise Compary was destroyed by fire on June 1. From an...

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Accounting

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The inventory of Bramble's Merchandise Compary was destroyed by fire on June 1. From an examination of the accounting records. the following data for the first five months of the vear were obtained: $ ales $98,000. Sales Returns and Allowances $1,500; $ ales Discounts \$600; Delivery Expense \$2,500, Purchases \$51,900, Freight in \$2,600, Purchase Returns and Allowances \$2,400, and Purchase Discounts $1,300. Determine the imventory lost by fire, assuming a beginning irmentory of $26,000 and a gross profit margin of 40%. Imventory lost by fire 5

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