Fosbre corporation's april 30 inventory was destroyed by fire. january 1 inventory was $156,000, and purchases for january through april totaled $468,200. sales revenue for the same period were $718,800. fosbre's normal gross profit percentage is 35% on sales. using the gross profit method, estimate fosbre's april 30 inventory that was destroyed by fire.

Total inventory lost= $156,980

Explanation:

Giving the following information:

January 1 inventory was $156,000, and purchases for January through April totaled $468,200. Sales revenue for the same period was $718,800. Fosbre's normal gross profit percentage is 35% on sales.

COGS=718,800*0.65= 467,220

Total inventory for sale= 156,000 + 468,200= 624,200

Total inventory lost= 624,200 - 467,220= 156,980

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

answer; i believe that the correct answer is ( owners investment)