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Question(s) / Instruction(s):

A company's warehouse was destroyed by a tornado on March 15. The following information was the only information that was salvaged:

Beginning inventory                       $ 28,000

Purchase for the period                                $ 17,000

Sales for the period                        $ 55,000

Sales return for the period          $ 700

The company's average gross profit ratio is 35%. What is the estimated cost of the lost inventory?

 A) $9,705.

 B) $25,995.

 C) $29,250.

 D) $44,000.

 E) $45,000.

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