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Business, 25.11.2020 14:00 apalacios3503

On April 15 of the current year, a fire destroyed the entire uninsured inventory of a retail store. The following data are available: Sales, January 1 through April 15 $600,000
Inventory, January 1 100,000
Purchases, January 1 through April 15 500,000
Markup on cost 25%

The amount of the inventory loss is estimated to be:

a. $120,000.
b. $60,000.
c. $150,000.
d. $100,000.

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