A fire completely destroyed the inventory housed in a warehouse in August. Reconstructed data follows: Sales to date of fire $340,000 Gross margin as a percent of cost 60% Gross purchases to date of fire 200,000 Beginning inventory 30,000 Purchases returns and allowances to date of fire 10,000 Freight-in 4,000 Sales returns 25,000 Compute the loss of inventory due to the fire. Select one: O a. $54,667 O b. $98,000 O c. $27,125 O d. $34,456