You are the warehouse manager for Discovery Kitchen Supplies. On a Sunday in May, you receive a phone call from the owner. He states that the entire building and contents were destroyed by fire. For the police report and the insurance claim, the owner has asked you to estimate the value of the lost inventory. Your records, which luckily were backed up on the hard drive of your home computer, indicate that at the time of the fire, the net sales to date were $615,400 and the purchases were $232,600. The beginning inventory on January 1 was $312,000. For the past three years, the company has operated at a gross margin of 60%. Use the gross profit method to calculate your answer.
Essentials Of Statistics
Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach
Single Variable Calculus
Probability and Statistics for Engineering and the Sciences
Elementary Technical Mathematics
Calculus: Early Transcendentals
Finite Mathematics and Applied Calculus (MindTap Course List)
Calculus (MindTap Course List)
Multivariable Calculus
Precalculus: Mathematics for Calculus (Standalone Book)
Essentials of Statistics for The Behavioral Sciences (MindTap Course List)
Applied Calculus
Statistics for The Behavioral Sciences (MindTap Course List)
Intermediate Algebra
Elementary Geometry For College Students, 7e
Finite Mathematics
Mathematical Applications for the Management, Life, and Social Sciences
Calculus: An Applied Approach (MindTap Course List)
Mathematical Excursions (MindTap Course List)
Single Variable Calculus: Early Transcendentals, Volume I
Calculus: Early Transcendental Functions
Understanding Basic Statistics
Single Variable Calculus: Early Transcendentals
Calculus of a Single Variable
Elements Of Modern Algebra
Trigonometry (MindTap Course List)
Calculus: Early Transcendental Functions (MindTap Course List)
Elementary Geometry for College Students
Finite Mathematics for the Managerial, Life, and Social Sciences
Study Guide for Stewart's Multivariable Calculus, 8th
Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th
Calculus (MindTap Course List)
Mathematics For Machine Technology
Multivariable Calculus
College Algebra (MindTap Course List)
Research Methods for the Behavioral Sciences (MindTap Course List)
Introduction To Statistics And Data Analysis
Research Methods for the Behavioral Sciences (MindTap Course List)
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Statistics for Business & Economics, Revised (MindTap Course List)
Essentials Of Statistics For Business & Economics
Discrete Mathematics With Applications
Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)
A First Course in Differential Equations with Modeling Applications (MindTap Course List)
Mathematics: A Practical Odyssey
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
Introductory Statistics
College Algebra