Question & Answer: ezto. Chapter 9 HW Question 13 (of 17) 13· 10.00 points On September 22, 2016, a flood destroyed the entire merchandise inventory on hand in a warehous…..

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ezto. Chapter 9 HW Question 13 (of 17) 13· 10.00 points On September 22, 2016, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company’s periodic inventory system: Inventory, January 1, 2016 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profift ratio $151,000 381,000 605,000 25% Required: Complete the below table to estimate the cost of inventory destroyed in the food using the gross profit method Beginning inventory Plus: Net purchases Cost of goods available for sale Less: Cost of goods sold Net sales Less: Estimated gross profit Estimated cost of goods sold Estimated cost of inventory destroyed Chock my work