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Bakstreet Company Wants to Estimate Inventory Destroyed by Flood

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Bakstreet Company wants to estimate inventory destroyed by flood. Its average gross profit percentage is 37%. The following information is available:
Bakstreet Company wants to estimate inventory destroyed by flood. Its average gross profit percentage is 37%. The following information is available: Instructions: Calculate the value of the destroyed ending inventory using the gross profit method. Round numbers to the nearest dollar, if necessary. Instructions: Calculate the value of the destroyed ending inventory using the gross profit method. Round numbers to the nearest dollar, if necessary.

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