Solution-What was the value of the merchandise inventory

What was the value of the merchandise inventory loss

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Question - Heavenly Interiors had beginning merchandise inventory of $75,000. It made purchases of $160,000 and recorded sales of $220,000 during November. Its estimated gross profit on sales was 30%. On November 30, the store was destroyed by fire. What was the value of the merchandise inventory loss?

A) $154,000

B) $160,000

C) $235,000

D) $81,000

E) None of the above

Reference no: EM132091865

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What was the value of the merchandise inventory loss

Reference no: EM132091865

Reference no: EM132091865

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