A company's store was destroyed by an earthquake on February 10 of the current year.The only information for the current period that could be salvaged included the following:
Historically,the company's gross profit ratio has been 30%.Estimate the value of the destroyed inventory using the gross profit method.

Question

A company's store was destroyed by an earthquake on February 10 of the current year.The only information for the current period that could be salvaged included the following:
  Historically,the company's gross profit ratio has been 30%.Estimate the value of the destroyed inventory using the gross profit method.

Quizplus · Accepted Answer

The Answer of A company's store was destroyed by an earthquake on February 10 of the current year.The only information for the current period that could be salvaged included the following:
  Historically,the company's gross profit ratio has been 30%.Estimate the value of the destroyed inventory using the gross profit method.

A Company's Store Was Destroyed by an Earthquake on February