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How much is the estimated cost of merchandise lost

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Question - On October 15, 2019 a fire destroyed all stock of equipment of LOPEZ Company in its rented stockroom. The records of the firm show the following information:

Net Sales Cost of Sales

2016 790,000 679,400

2017 880,000 739,200

2018 925,000 758,500

Inventory, January 1, 2019 130,500

Sales, January 1 to October 15, 2019 960,000

Sales return and allowances 15,000

Purchases, January 1 to October 15, 2019 890,000

Purchase return and allowances 12,000

Cost of stock in display room not destroyed 85,000

Required - How much is the estimated cost of merchandise lost in the fire of October 15, 2019?

a. 148,600

b. 167,500

c. 120,250

d. 252,500

Reference no: EM132947364

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