When mary potts arrived at her store on the morning of january 29, she found empty shelves and display racks; thieves had broken in during the night and stolen the entire inventory. accounting records showed that inventory costing $56,000 on january 1. from january 1 to january 29, potts had made net sales of $78,400 and net purchases of $89,600. the gross profit during the past several years had consistently averaged 43 percent of net sales. potts plans to file an insurance claim for the theft loss. using the gross profit method, estimate the cost of inventory at the time of the theft.
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 23:30, trinitieu66
Which alternative accounting method allows farmers to record expenses and incomes in the year in which they sell their yield? gaap allows for the method, which permits farmers to subtract the expenses of producing the crop in the year in which they sell the yield and earn the revenue.
Answers: 3
Business, 22.06.2019 08:30, justalikri
Most angel investors expect a return on investment of question options: 20% to 25% over 5 years. 15% to 20% over 5 years. 75% over 10 years. 100% over 5 years.
Answers: 1
Business, 22.06.2019 11:10, amunson40
The green fiddle has declared a $5 per share dividend. suppose capital gains are not taxed, but dividends are taxed at 15 percent. new irs regulations require that taxes be withheld at the time the dividend is paid. green fiddle stock sells for $71.50 per share, and the stock is about to go ex-dividend. what will the ex-dividend price be?
Answers: 2
Business, 22.06.2019 22:00, hiyagirllyric
Which of the following is the term for something that you can't live without 1. need 2. want 3. good 4. service
Answers: 1
You know the right answer?
When mary potts arrived at her store on the morning of january 29, she found empty shelves and displ...
Questions in other subjects:
Chemistry, 19.03.2020 09:07
