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What is the approximate inventory loss as a result

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Question - On the eve of June 15, 2014, a fire destroyed the entire merchandise inventory of WIND Corp. The merchandise was not insured with any insurance company. The following data were gathered.

Inventory; Jan. 1 P250,000

Purchases, Jan. 1 to June 15 1,500,000

Sales, Jan. 1 to June 15 2,000,000

Markup percentage on cost 25%

Required - What is the approximate inventory loss as a result of the fire?

Reference no: EM133127634

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