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A fire destroys all of the merchandise of bridgeport

Question - A fire destroys all of the merchandise of Bridgeport Company on February 10, 2017. Presented below is information compiled up to the date of the fire.

Inventory, January 1, 2017$395,100 Sales revenue to February 10, 20171, 926,800 Purchases to February 10, 20171, 171,760 Freight-in to February 10,2017 54,510 Rate of gross profit on selling price 30%

What is the approximate inventory on February 10, 2017?

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Accounting Basics: A fire destroys all of the merchandise of bridgeport

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Accounting Basics: A fire destroys all of the merchandise of bridgeport

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