A company's warehouse contents were destroyed by a flood on September 12. The following information was the only information that was salvaged: 1. Inventory, beginning: $28,700 2. Purchases for the period: $17,700 3. Sales for the period: $55,700 4. Sales returns for the period: $770 The company's average gross profit ratio is 33%. What is the estimated cost of the lost inventory?
A. $31,088.00.
B. $28,273.10.
C. $46,400.00.
D. $9596.90.
E. $45,400.00.
Answer: D
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