Question: DD store was destroyed by a fire on March 15 of the current year. The only information for the current period that could be salvaged

DD store was destroyed by a fire on March 15 of the current year. The only information for the current period that could be salvaged included the following: Beginning inventory, January 1 $ 52,000 Purchases to date $175,000 Net sales to date $280,000 Historically, the company's gross profit ratio has been 35%. Estimate the value of the destroyed inventory using the gross profit method. show all work for calculations.

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