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Estimate the cost of the concession inventory destroyed

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Question - Vacation Properties began January with concession inventory of $48,000. The business made net purchases of concessions for $106,000 and had net sales of $200,000 before a fire destroyed its concession inventory. For the past several years, Vacation Properties' gross profit percentage has been 40%. Estimate the cost of the concession inventory destroyed by the fire.

Reference no: EM133186085

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