No. = ASSETS Non-current Assets Current Assets Property, Plant amp; Equipment Investments LIABILITIES Intangible Assets/Other Current Liabilities

10. An inventory taken the morning after a large theft discloses $60,000 of goods on hand as of March 12. The following additional data is available from the books:

               Inventory on hand, March 1                                                             $ 84,000

               Purchases received, March 1 - 11                                                      63,000

               Sales (goods delivered to customers)                                              105,000

Past records indicate that sales are made at 40% above cost.

Estimate the inventory of goods on hand at the close of business on March 11 by the gross profit method and determine the amount of the theft loss. Show appropriate titles for all amounts in your presentation.