Business, 14.04.2020 17:58 gerardoblk5931

Howard Supply Co suffered a fire loss on April 20,2011. The companys last physical inventory was taken on January 30,2011 at which time the inventory totaled 220,000. Sales from Jan 30 to April 20 were $600,000 and purchases during that time were $450,000. Howards consistently reports a 30% gross profit. The estimated inventory loss is:

a 490,000
b 238,000
c 250,000
d none

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Howard Supply Co suffered a fire loss on April 20,2011. The companys last physical inventory was tak...

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