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What is the cost of the merchandise destroyed by fire

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Question - The CEBU BRANCH of MOCHI Company is billed for merchandise by the home office at 20 percent (20%) above cost. The branch in turn prices merchandise for sale purposes at 25 percent (25%) above billed price.

On January 25 all of the branch merchandise is destroyed by fire. No insurance was maintained. Branch accounts show the following information:

Inventory, Jan 1, 173,000

Sales Returns, 30,000

Shipments from Home Office (Jan 1-25), 200,000

Sales Discounts, 30,000

Sales 350,000.

Required - What is the cost of the merchandise destroyed by fire?

a. 114,375

b. 97,500

c. 99,500

d. 110,833

Reference no: EM132763047

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