Check my 10 Exercise 9-10 (Algo) Gross profit method [LO9-2] 0.4 oints A fire destroyed a warehouse of the Goren Group, Inc., on May 4, 2021. Accounting records on that date Indicated the following: eBook Merchandise inventory, January 1, 2021 Purchases to date Freight-in Sales to date $2,000,000 5,980,000 5e8,eee 9,200,000 Print The gross profit ratio has averaged 20% of sales for the past four years. References Required: Use the gross profit method to estimate the cost of the Inventory destroyed in the fire. Estimated loss from fire