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Business, 12.08.2020 06:01 matiasjjj14

On March 15, a fire destroyed Sheridan Company's entire retail inventory. The inventory on hand as of January 1 totaled $5900000. From January 1 through the time of the fire, the company made purchases of $2032000, incurred freight-in of $242000, and had sales of $4140000. Assuming the rate of gross profit to selling price is 20%, what is the approximate value of the inventory that was destroyed

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On March 15, a fire destroyed Sheridan Company's entire retail inventory. The inventory on hand as o...
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