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Estimate Ayayai April inventory that was destroyed by fire

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Question - Ayayai Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $162,900, and purchases for January through April totaled $510,500. Sales revenue for the same period were $738,800. Ayayai's normal gross profit percentage is 25% on sales.

Using the gross profit method, estimate Ayayai's April 30 inventory that was destroyed by fire.

Reference no: EM132288926

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