Question: Current Attempt in ProgressOn December 3 1 , 2 0 2 5 , Blossom Company's inventory was destroyed by fire. Sales and purchases for the

Current Attempt in ProgressOn December 31,2025, Blossom Company's inventory was destroyed by fire. Sales and purchases for the year had been $1,510,000 and $971,000, respectively. The beginning inventory (Jan.1,2025) was $171,000; in the past Blossom's gross profit has averaged 30% of the selling price.Compute the estimated cost of inventory destroyed by fire.Estimated cost of inventory burned$

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