Mobix Insurance Ltd. has received a burglar claim of $45,000 from Medisoft Corp. A gang of thieves
stole Medisoft inventory on August 28, 2021. Medisoft has an average gross profit of 35 per cent. You
have obtained the following information:
Inventory, August 1, 2021, $ 80,000
Purchases, August 1 – August 28, $150,000
Sales, August 1 -August 28 $ 300,000
Required:
- Calculate the estimated amount of inventory lost by the heist ?
- How reasonable is Medisoft claim?