Homework Clinic

Social Science Clinic => Accounting => Topic started by: LaDunn on Feb 18, 2020

Title: The Cyprus Company recently lost its entire inventory in a fire. The accounting records reflect the ...
Post by: LaDunn on Feb 18, 2020
The Cyprus Company recently lost its entire inventory in a fire. The accounting records reflect the following information:
Beginning Inventory$36,000​
Net Purchases$220,500​
Net Sales$378,300​
Gross Profit Rate40%
Using the gross profit method, estimated inventory is:
◦ $29,520
◦ $36,000
◦ $102,600
◦ Cannot be determined with given information.
Title: The Cyprus Company recently lost its entire inventory in a fire. The accounting records reflect the ...
Post by: Pariscourtney on Feb 18, 2020
$29,520
Title: Re: The Cyprus Company recently lost its entire inventory in a fire. The accounting records reflect
Post by: Evan Colvin on Apr 8, 2021
Thank you
Title: Re: The Cyprus Company recently lost its entire inventory in a fire. The accounting records reflect
Post by: Karan Randhawa on Aug 14, 2021
Thank You