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Bakstreet Company Wants to Estimate Inventory Destroyed by Flood

Question 6

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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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