44. Retsu Cafe sells gift cards in $25 increments. Based on…
44. Retsu Cafe sells gift cards in $25 increments. Based on experience, Restu estimates that 30% of the gift cards will not be redeemed. During 2025, the restaurant had total gift card sales of $8,000, of which $2,240 were redeemed. How much of Restu’s sales revenue in 2025 is attributable to breakage?
Read Details42. A flash flood swept through FMB, Inc.’s warehouse on May…
42. A flash flood swept through FMB, Inc.’s warehouse on May 1. After the flood, FMB’s accounting records showed the following: Inventory, January 1 $ 45,000 Purchases, January 1 through May 1 $ 145,000 Sales, January 1 through May 1 $ 200,000 Inventory not damaged by flood $ 60,000 Gross profit percentage on sales 45% What amount of inventory was lost in the flood?
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