The following information is available for October for UAE Company. Beginning inventory $500,000 Net purchases 1,200,000

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answerhappygod
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The following information is available for October for UAE Company. Beginning inventory $500,000 Net purchases 1,200,000

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The following information is available for October for UAE
Company. Beginning inventory $500,000 Net purchases 1,200,000 Net
sales 2,400,000 Percentage markup on sale 30% A hurricane destroyed
UAE’s May 31 inventory. Using the gross profit method, what is the
cost of the estimated ending inventory destroyed by fire?
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