Exercise $9-8($Algo$)$ Gross profit method $[$LO$9-2]$

On September $22,2024,$ a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system:

$\backslash$table$[[$Inventory$,$ January $1,2024,$$$146,000$