The Sahara Company's inventory was partially destroyed on June 4, 2016, when its warehouse caught on fire early in the morning. Inventory that had a cost of $8,000 was saved. The accounting records, which were located in a fireproof vault, contained the following information: Using the gross profit method, what is the estimated cost of the inventory destroyed by the fire?

Question

The Sahara Company's inventory was partially destroyed on June 4, 2016, when its warehouse caught on fire early in the morning. Inventory that had a cost of $8,000 was saved. The accounting records, which were located in a fireproof vault, contained the following information:  Using the gross profit method, what is the estimated cost of the inventory destroyed by the fire?

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The Answer of The Sahara Company's inventory was partially destroyed on June 4, 2016, when its warehouse caught on fire early in the morning. Inventory that had a cost of $8,000 was saved. The accounting records, which were located in a fireproof vault, contained the following information:  Using the gross profit method, what is the estimated cost of the inventory destroyed by the fire?

The Sahara Company's Inventory Was Partially Destroyed on June 4