On October 31,a flood at Comfort Company's only warehouse caused severe damage to its entire inventory.Based on recent history,Comfort has a gross profit of 40 percent of net sales.The following information is available from Comfort's records for the ten months ended October 31: A physical inventory disclosed usable damaged goods which Comfort estimates can be sold for $70,000.Using the gross profit method,the estimated cost of goods sold for the ten months ended October 31 should be

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On October 31,a flood at Comfort Company's only warehouse caused severe damage to its entire inventory.Based on recent history,Comfort has a gross profit of 40 percent of net sales.The following information is available from Comfort's records for the ten months ended October 31:  A physical inventory disclosed usable damaged goods which Comfort estimates can be sold for $70,000.Using the gross profit method,the estimated cost of goods sold for the ten months ended October 31 should be

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The Answer of On October 31,a flood at Comfort Company's only warehouse caused severe damage to its entire inventory.Based on recent history,Comfort has a gross profit of 40 percent of net sales.The following information is available from Comfort's records for the ten months ended October 31:  A physical inventory disclosed usable damaged goods which Comfort estimates can be sold for $70,000.Using the gross profit method,the estimated cost of goods sold for the ten months ended October 31 should be

On October 31,a Flood at Comfort Company's Only Warehouse Caused