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What estimated cost of the merchandise destroyed by fire was

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A Company bills its C Branch for shipments of goods at 25% above its cost. At the close of business on October 31, 2015, a fire gutted the branch warehouse and destroyed 60% of the merchandise stock stored therein. The following data were gathered:

Jan. 1, inventory at billed price 50,000
Shipments from HO to Oct. 31 130,000
Net sales to Oct. 31 225,000

Problem 1: If undamaged merchandise recovered are marked to sell for 30,000, the estimated cost of the merchandise destroyed by fire was?

a. 14,400
b. 21,600
c. 24,000
d. 27,500

Reference no: EM132914154

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