3. Staples Company’s accounting records indicated the following information:
A physical inventory taken on December 31, 2013, resulted in an ending inventory of $525,000. Staples’s gross profit on cost has remained constant at 25% in recent years. Staples suspects some inventory may have been taken by a new employee. At December 31, 2013, what is the estimated cost of missing inventory?
(A)$ 15,000
(B)$ 175,000
(C)$200,000
(D)$ 185,000.
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