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: Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross profit method.

Inventory - January 1, 2016 $147,000
Net purchases - January 1 through September 22 377,000
Net sales - January 1 through September 22 585,000
Gross profit ratio 25%

The cost of inventory destroyed in the flood using the gross profit method is $5,585,250

Explanation:

The cost of inventory destroyed in the flood using the gross profit method.

Sales                                                                                 22 585,000

Less Cost of Goods Sold :

Opening Stock                                     147,000

Add Purchases                               22 377,000

                                                        22524,000

Less Closing Stock (Balance)         (5,585,250)

Cost of Sales                                                                      (16,938,750)

Gross Profit                                                                           5,646,250

odd consecutive integers are odd integers that follow each other. they have a difference of 2 between every two numbers. if n is an odd integer, then n, n+2, n+4 and n+6 will be odd consecutive integers. the first number in the pattern is always the variable on its own or in this case, "n". examples.

i would prefer to go with the news article for nate, its recent and updated and stores a lot of information