On April 24 of the current year, The Memphis Pecan Company experienced a tornado that destroyed the company's entire inventory. At the beginning of April, the company reported beginning inventory of $228,350. Inventory purchased during April (until the date of the tornado) was $199,400. Sales for the month of April through April 24 were $644,100. Assuming the company's typical gross profit ratio is 50%, estimate the amount of inventory destroyed in the tornado.

A. $322,050
B. $213,875
C. $105,700
D. $158,588
E. $216,350


Answer: C

Business

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McGill University's Prof. Mintzberg, writing about leaders and strategy, had observations which

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Business

Bendas Company, a manufacturer of small appliances, had the following activities, allocated costs, and allocation bases

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Business

Which of the following statements is CORRECT?

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Business

The probability of a failure in a binomial experiment is denoted by ____________________

Fill in the blank(s) with correct word

Business