e Your answer is correct. Tim Legler requires an estimate of the cost of goods lost by fre on March Merchandise on hand on January I was 538.000. since January I were $72,000: freight-in, SS.400: purchase returns and allowances. $2,400. Sales are made at 3S 130/0 above cost and totaled SIOO,OOO to Merch 9. Goods costing SIO900 were left undamaged by the fire: remaining goods were destroyed. (a) Compute the cost of goods destroyed. Cost of goods destroyed (b) Compute the cost of goods destroyed, assuming that the gross profit is SS of sales (Round ratios for computational purposes to 5 decimal places, e.g. 78.72345% and final answer to O decimal places, e.g. 28, 987.) Cost of goods destroyed