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Minoan Company Lost Its Entire Inventory During an Earthquake

Question 64

Multiple Choice

Minoan Company lost its entire inventory during an earthquake.The following key inventory information was recovered from backup data stored electronically at a remote location: Minoan Company lost its entire inventory during an earthquake.The following key inventory information was recovered from backup data stored electronically at a remote location: Use the gross profit method to estimate the cost of the ending inventory. A) $189,000 B) $211,000 C) $199,000 D) $186,000 Use the gross profit method to estimate the cost of the ending inventory.


A) $189,000
B) $211,000
C) $199,000
D) $186,000

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