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Question - On July 23, the company's inventory was destroyed in a hurricane-related flood. For insurance purposes, the company must reliably estimate the amount of inventory on hand on July 23. The company uses a periodic inventory system. The following data have been assembled:
Inventory, January 1 $1,350
Purchases, January 1-July 23 $4,000
Sales, January 1-July 23 $6,500
Last year's gross profit percentage 70%
Estimate the company's inventory as of July 23 using last year's gross profit percentage.
1ruben company purchased 100000 of evans company bonds at 100 plus 1500 in accrued interest. the bond interest rate is
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