Solution-What is the estimated cost of inventory lost in

What is the estimated cost of inventory lost in the fire

Reference no: EM132733065

Question - Crane Company reported the following information for November and December 2020.

	November	December
Cost of goods purchased	$538,000	$614,000
Inventory, beginning-of-month	126,000	161,910
Inventory, end-of-month	161,910	?
Sales revenue	851,000	1,000,000

The gross profit rate for November: 41%.

Required - Using the gross profit rate for November, what is the estimated cost of inventory lost in the fire?

Reference no: EM132733065

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What is the estimated cost of inventory lost in the fire : Crane Company reported the following information for November and December 2020. What is the estimated cost of inventory lost in the fire

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What is the estimated cost of inventory lost in the fire

Reference no: EM132733065

Reference no: EM132733065

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