On June 13, Hagen Products sustained a warehouse fire in which ...

[segrsyd]

On June 13, Hagen Products sustained a warehouse fire in which all of the merchandise was destroyed. Company records indicate that at the time of the fire the net sales to date were 2,438,500. Hagen had a beginning inventory of 658,300 and net purchases were 1,562,850. They have maintained a gross margin of 35 on sales over the past three years. Use the gross margin method to estimate the inventory loss for the insurance claim.

Question 2

What was the trade discount rate if goods with a list price of 10,600 were sold at a net price of 8,250? (Round to the nearest tenth)
 A) 79.1
  B) 22.2
  C) 36.4
  D) 28.3

[tennis14576]

Answer to Question 1

636,125

Answer to Question 2

B

[segrsyd]

Excellent

[Dinolord]

TYSM