On August 31,2016,Hurricane Chuck destroyed Bedford Craft Mart's entire inventory.The following information is available from its accounting records:

Required:
Assuming that Bedford estimates the cost of destroyed inventory at $510,000,compute gross profit margin % that Bedford uses in estimating inventory.

Question

On August 31,2016,Hurricane Chuck destroyed Bedford Craft Mart's entire inventory.The following information is available from its accounting records:
  
Required:
Assuming that Bedford estimates the cost of destroyed inventory at $510,000,compute gross profit margin % that Bedford uses in estimating inventory.

Quizplus · Accepted Answer

The Answer of On August 31,2016,Hurricane Chuck destroyed Bedford Craft Mart's entire inventory.The following information is available from its accounting records:
  
Required:
Assuming that Bedford estimates the cost of destroyed inventory at $510,000,compute gross profit margin % that Bedford uses in estimating inventory.

On August 31,2016,Hurricane Chuck Destroyed Bedford Craft Mart's Entire Inventory