A fire on 30 September 2002 destroyed some of a company’s inventory and its inventory records.
The following information is available:
$
Inventory 1 September 2002 318,000
Sales for September 2002 612,000
Purchases for September 2002 412,000
Inventory in good condition at 30 September 2002 214,000
Standard gross profit percentage on sales is 25%
Based on this information, what is the value of the inventory lost?
A $96,000
B $271,000
C $26,400
D $57,000 D Sales 612,000
Opening inventory 318,000
Purchases 412,000
730,000
less: Inventory held 214,000
516,000
Shortfall 57,000 459,000
Gross profit 25% 153,000 | 
发表于 2008-4-12 22:07
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