A flood destroyed a company's warehouse contents on September 12. The following information was the only information that was salvaged:1. Inventory, beginning: $29,100 2. Purchases for the period: $18,100 3. Sales for the period: $56,100 4. Sales returns for the period: $810 The company's average gross profit ratio is 29%. What is the estimated cost of the lost inventory using the gross profit method?
A. $31,165.90.
B. $33,512.00.
C. $47,200.00.
D. $7944.10.
E. $46,200.00.
Answer: D
Business
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