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A Fire Destroyed the Inventory of Barber Company

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A fire destroyed the inventory of Barber Company.The following information is available:
A fire destroyed the inventory of Barber Company.The following information is available: Required: 1.Prepare a schedule to compute the amount of inventory lost in the fire using the gross profit method. 2.Prepare the required journal entry after the fire. Required:
1.Prepare a schedule to compute the amount of inventory lost in the fire using the gross profit method.
2.Prepare the required journal entry after the fire.

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