Maurice Tutor

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Expertise:
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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 26 Sep 2017 My Price 4.00

Brenda Company

Brenda Company reported the following information for November and December 2014.

 

November

December

Cost of goods purchased

$536,000

$ 6101000

Inventory, beginning-of-month

130,000

120,000

Inventory, end-of-month

120,000

?

Sales revenue

840,000

1,000,000

Brenda"s ending inventory at December 31 was destroyed in a fire.

Instructions

(a) Compute the gross profit rate for November.

(b) Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire.

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Sep 2017 09:09 PM My Price 4.00

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