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Business, 03.11.2020 17:20 user20061024

A company's warehouse contents were destroyed by a flood on September 12. The following information was the only information that was salvaged: Inventory, beginning: $29,400 Purchases for the period: $18,400 Sales for the period: $56,400 Sales returns for the period: $840 The company's average gross profit ratio is 26%. What is the estimated cost of the lost inventory

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