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Business, 22.11.2020 01:00 isabellainksow87vn

Swifty Corporation’s April 30 inventory was destroyed by fire. January 1 inventory was $159,400, and purchases for January through April totaled $504,000. Sales revenue for the same period was $671,100. Swifty’s normal gross profit percentage is 35% on sales. Using the gross profit method, estimate Swifty’s April 30 inventory that was destroyed by fire.

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Swifty Corporation’s April 30 inventory was destroyed by fire. January 1 inventory was $159,400, and...

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