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The merchandise inventory was destroyed by fire on August 19. The following data were obtained from the accounting records:
Jan.1Merchandise inventory$360,000Jan. 1-Aug.19Purchase (net)3,200,000Sales (net) 5,200,000Estimated gross profit rate36%a-Estimate the cost of the merchandise destroyed.b-Briefly describe the situations in which the gross profit method is useful.
part-1please respond to the following questions of implementing activity data-driven cost components for health
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