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What is the estimated inventory on july

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Question - On July 8, a fire destroyed the entire merchandise inventory on hand of Larrenaga Wholesale Corporation. The following information is available:

Sales, January 1 through July 8 $695,000

Inventory, January 1 137,000

Purchases, January 1 through July 8 646,000

Gross profit ratio 25%

Required - What is the estimated inventory on July 8 immediately prior to the fire?

Reference no: EM133069854

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