colton7856
colton7856
12.12.2019 • 
Business

Western company recently lost its entire inventory in an earthquake. the following information is available from its accounting records: beginning inventory: $5,000; purchases: $18,000; net sales: $40,000. the company's average gross profit percentage is 40%. using the gross profit method, a reasonable estimate of cost of goods sold for this past period would be

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