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What is the approximate inventory on February

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Question - A fire destroys all of the merchandise of Coronado Company on February 10, 2020. Presented below is information compiled up to the date of the fire.

Inventory, January 1, 2020 $422,300

Sales revenue to February 10, 2020 1,949,100

Purchases to February 10, 2020 1,210,110

Freight-in to February 10, 2020 64,540

Rate of gross profit on selling price 30%

What is the approximate inventory on February 10, 2020?

Reference no: EM132601448

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