Assignment Gradebook ORION Downloadable eTextbook ctice ment NEXT CALCULATOR FUL

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Assignment Gradebook ORION Downloadable eTextbook ctice ment NEXT CALCULATOR FULL SCREEN PRINTER VERSION BACK Brief Exercise 9-9 Oriole Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $155,000, and purchases for January through April totaled $467,300. Sales revenue for the same period were $684,500. Oriole's normal gross profit percentage is 25% on sales. Using the gross profit method, estimate Oriole's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire s Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Question Attempts: 0 of 10 used SAVE FOR LATER SUBMIT ANSWER

Explanation / Answer

9-9) Calculate ending inventory destroy by fire :

Ending inventory destroyed by fire is $108925

9-13)

Beginning inventory 155000 Purchase 467300 Cost of goods available for sale 622300 Sales 684500 Less: Gross profit -171125 Cost of goods sold -513375 ENding inventory 108925

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