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Discuss what is the estimated cost of the inventory lost

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Lisa school supplies suffred a fire loss. The company needs to estimate the cost of good destroyed. Beginning inventory was 100,000 purchases totaled 600,000 and sales came equaled 1,000,000. Lisa normal gross profit percentage is 40%. What is the estimated cost of the inventory lost in the fire using gross profit method?

Reference no: EM131797799

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