{"id":77459,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/rasheed-wallace-company-lost-most-of-its-inventory-in-a-fire-in-december-just-before-the-year-end"},"modified":"2017-08-18T07:19:28","modified_gmt":"2017-08-18T07:19:28","slug":"rasheed-wallace-company-lost-most-of-its-inventory-in-a-fire-in-december-just-before-the-year-end","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/rasheed-wallace-company-lost-most-of-its-inventory-in-a-fire-in-december-just-before-the-year-end\/","title":{"rendered":"Rasheed Wallace Company lost most of its inventory in a fire in December just before the year-end"},"content":{"rendered":"<p><a class=\"rasheed-wallace-company-lost-inventory-fire-december-just-year-end\/\"><\/a> <\/p>\n<p><em>Rasheed Wallace Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. The corporation\u2019s books disclosed the following.<\/em><\/p>\n<p><em> <\/p>\n<p>Beginning inventory $174,000 Sales revenue $677,500<br \/> Purchases for the year 460,300 Sales returns 27,320<br \/> Purchase returns 30,400 Rate of gross profit on net sales 30%<\/p>\n<p>Merchandise with a selling price of $21,000 remained undamaged after the fire. Damaged merchandise with an original selling price of $13,970 had a net realizable value of $6,300.<\/p>\n<p> <\/em><\/p>\n<p><em>Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rasheed Wallace Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. The corporation\u2019s books disclosed the following. Beginning inventory $174,000 Sales revenue $677,500 Purchases for the year 460,300 Sales returns <a href=\"https:\/\/www.benedictsol.com\/blogs\/rasheed-wallace-company-lost-most-of-its-inventory-in-a-fire-in-december-just-before-the-year-end\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77459","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/77459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=77459"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/77459\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=77459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=77459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=77459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}