On August 31, 2018, 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, 2018, 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.

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The Answer of On August 31, 2018, 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, 2018, Hurricane Chuck Destroyed Bedford Craft Mart's