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Find the estimated ending inventory destroyed by Earthquake

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Question - The following information is available for November for AW.

Beginning inventory $150,000

Net purchases $450,000

Net sales $900,000

Percentage markup on cost 66.67%

Earthquake destroyed AW's November inventory, leaving undamaged inventory with a cost of $9,000. Using the gross profit method, find the estimated ending inventory destroyed by Earthquake?

Reference no: EM132726981

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