On October 15, 2020, a fire destroyed all the stock of equipment of Eyeliner Equipment Center in its rented stockroom. The records of the firm show the following information:

2019 2018 2017 2016

Sales P 925,000 P 880,000 P 790,000 P 710,000

Cost of Sales 758,500 739,200 679,400 624,800

Gross profit P 166,500 P 140,800 P 110,600 P 85,200



Inventory, Jan 1, 2020 P 130,500

Sales Jan 1 to Oct 15, 2020 960,000

Sales returns and allowances 15,000

Purchases, Jan 1 to Oct 15, 2020 890,000

Purchase returns and allowances 12,000

Cost of stock in display room, not destroyed 85,000



How much is the estimated cost of merchandise lost in the fire of October 15, 2020?

2 answers

148 600
1112000