Howard's Supply Co. suffered a fire loss on April 20, 2021. The company's last physical inventory was taken January 30, 2021, at which time the inventory totaled $231,000. Sales from January 30 to April 20 were $611,000 and purchases during that time were $461,000. Howard's consistently reports a 25% gross profit. The estimated inventory loss is: Multiple Choice $484,750. $221,750. $233,750. None of these answer choices are correct.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Howard's Supply Co. suffered a fire loss on April 20, 2021. The company's last physical inventory was taken January 30, 2021, at which time ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Madison Company's perpetual inventory records indicate that $535,500 of merchandise should be on hand on October 31. The physical inventory indicates that $504,580 is actually on hand.
Answers (2)
How do a traditional economy, a market economy, a command economy, and a mixed economy differ?
Answers (1)
How long would it take for the price level to double if inflation persisted at (a) 2 percent per year, (b) 5 percent per year, and (c) 10 percent per year?
Answers (1)
Spandocorp is a diversified firm that makes industrial, military and consumer products from spandex. spandocorp manages each of the businesses that it operates in as a separate division and treats each as a true profit-and-loss center.
Answers (1)
When a firm does not have the resource required for pursuing a growth strategy, and if the resource in question is not easily tradable, the implication for the strategist is most likely to:A) enter into a licensing agreement.
Answers (1)
New Questions in Business
What does "monetary policy" mean? A. Federal Reserve policies on creating new banks B. political policies pursued by the federal government C. actions the Federal Reserve takes to influence the economy D.
Answers (1)
What is the meaning of market in economics
Answers (1)
If you were a police officer, at night during your shift, you confront a suspicious man walking in an elite neighborhood. You stop to question the man, but he refuses even to give you his name.
Answers (1)
The account "Warranty Liability": is adjusted at the end of the year. is credited each time a warranty repair is made. has a year-end credit balance equal to the cost of warranty repairs made during the year. is closed at the end of the year.
Answers (1)
What percentage of U. S. households have no access to banking services? A) 8 percent B) 10 percent C) 15 percent D) 50 percent
Answers (1)