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Category > Business & Finance Posted 30 May 2017 My Price 7.00

On December 31, 2010 Brown Company's

On December 31, 2010 Brown Company's inventory burned. Sales and purchases for the year had been $1,400,000 and $980,000, respectively. The beginning inventory (Jan. 1, 2010) was $170,000; in the past Brown's gross profit has averaged 40% of selling price. Instructions Compute the estimated cost of inventory burned, and give entries as of December 31, 2010 to close merchandise accounts.

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Status NEW Posted 30 May 2017 03:05 AM My Price 7.00

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