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Determine the estimated inventory loss

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Question - Howard's Supply Co. suffered a fire loss on April 20, 2021. The company's last physical inventory was taken January 30, 2021, at which time the inventory totaled $237,000. Sales from January 30 to April 20 were $617,000 and purchases during that time were $467,000. Howard's consistently reports a 25% gross profit. Determine the estimated inventory loss?

Reference no: EM133052627

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