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
Kitchen Convenience Company manufactures two productslong dashtoaster ovens and bread machines. The following data are available: Toaster Ovens Bread Machines Sales price $ 100 $ 140 Variable costs $ 60 $ 50 Kitchen Convenience can manufacture six
Answers (1)
The 1 Series changes the value offered to consumers by making it smaller, more fuel-efficient and lower-priced than other BMWs.
Answers (1)
Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 149 Units in beginning inventory 100 Units produced 1,230 Units sold 1,070 Units in ending inventory 260
Answers (2)
A company produces two products, A and B. It has limited capacity but unlimited demand so it can sell as many of either product as it produces. Product A requires 2 machine hours per unit to produce, and Product B requires 1 machine hour to produce.
Answers (1)
Finished goods inventory is reported on the a. balance sheet as a long-term asset b. balance sheet as a current asset c. income statement as revenue d. income statement as a period cost g
Answers (2)
New Questions in Business
A registered representative opens a new account for a customer by telephone and receives an order to sell 300 shares of ABC at the market.
Answers (1)
Brian brewster sold property to a buyer who paid him $400,000 cash and assumed an existing mortgage of $150,000
Answers (1)
The following inventory information was taken from the records of Kleinfeld Inc.: Historical cost $12,000 Replacement cost $7,000 Expected selling Price $9,000 Expected selling cost $500 Normal profit margin 50% of price Assume that subsequent to
Answers (1)
Eliza has a policy that allows her to deduct the premiums she pays that exceed 10% of her adjusted gross income. Once she turns 65, she can deduct the premiums that exceed 7.5% of her adjusted gross income. Which type of policy does Eliza have?
Answers (1)
A key consideration related to business intelligence is that it focuses on data to aid in
Answers (1)