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Mathematics, 26.11.2019 21:31 zoebenally4526

Viewpoint company’s october 31 inventory was destroyed by fire. the company’s beginning inventory was $500,000, and purchases for january through october were $1,200,000. sales for the same period were $1,800,000. the company’s normal gross profit percentage is 30% of sales. using the gross profit method, the october 31 inventory is estimated to be $300,000. $40,000. $540,000. $440,000.

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