Description
You need to calculate
Inventory Lost in fire With the Gross Profit
see the attachment below for the details. It is a simple work
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Problem #3; 5pts
Strand Corp lost its inventory in a fire and they have asked you to calculate the value of Ending Inventory based
on the following info:
Beg Inv $250,000, Sales $975,000, Purchases $590,000, Sales returns $50,000, Purchase returns $30,000.
Average Gross Profit margin 55%
Be sure to show Strand Corp all your work for credit!
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Explanation & Answer
check_circle MaryMcallister marked this question as complete.
Running head: ACCOUNTING CALCULATION
Accounting calculation
Name
Institution
1
ACCOUNTING CALCULATION
2
Strand Corp lost its inventory in a fire they have asked you to calculated the value of the ending
inventory based on the f...
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