Hello there! I need help to figure out part 2. Can some one help me out please? Thx!

f Ch 8: Homework Question 4 of 4 1/2 III View Policies Show Attempt History Current Attempt in Progress Concord Corp. lost most of its inventory in a fire in December, just before the year-end physical inventory was taken. The corporation's books disclosed the following: Beginning inventory $360,000 Sales $ 1,339,500 Purchases for the year 920,000 Sales returns 49,000 Purchase returns 82,000 Gross margin on sales 40 % Merchandise with a selling price of $ 40,000 remained undamaged after the fire. Damaged merchandise with an original selling price of $32,000 had a net realizable value of $ 11,600. Part 1 You morir correct f Ch 8: Homework Question 4 of 4