E6 28 Deluxe Auto Parts
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Description
E6-28 - Deluxe Auto Parts
ACC 205 Week 3 E6-28 - Deluxe Auto Parts
E6-28 Estimating ending inventory by the gross profit method [1015 min]
Deluxe Auto Parts holds inventory all over the world. Assume that the records for one auto part show the following:
Beginning inventory $ 220,000
Net purchases 800,000
Net sales 1,100,000
Gross profit rate 45%
Suppose this inventory, stored in the United States, was lost in a fire.
Requirement
- Estimate the amount of the loss to Deluxe Auto Parts. Use the gross profit method.
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Published On:
02/18/2013
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1 page(s)
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105
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E6-28 - Deluxe Auto Parts - ACC205 Principles of Accounting I - Ashford University.doc
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