Records of California Marine Products Assignment
February 20th, 2020
5 The records of California Marine Products, Inc., revealed the following information related to inventory destroyed in an earthquake: Inventory, the beginning of period Purchases to date of earthquake Net sales to date of earthquake Gross profit ratio $300,000 160,000 450,000 30%
The estimated amount of inventory destroyed by the earthquake is: $325,000 $145,000 $10,000 All of these answer choices are incorrect. .