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Santorini Company Lost Its Entire Inventory During an Earthquake

Question 4

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Santorini Company lost its entire inventory during an earthquake.The following key inventory information was reconstructed from backup data stored electronically at a remote location: Santorini Company lost its entire inventory during an earthquake.The following key inventory information was reconstructed from backup data stored electronically at a remote location: Use the gross profit method to estimate the cost of the ending inventory. A) $500,000 B) $480,000 C) $470,000 D) $320,000 Use the gross profit method to estimate the cost of the ending inventory.


A) $500,000
B) $480,000
C) $470,000
D) $320,000

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