Question: help fast plz On October 31, a fire destroyed PH Inc.'s entire retail inventory. The inventory on hand as of January 1 totaled $680,000. From

help fast plz On October 31, a fire destroyed PH Inc.'s entire retail inventory. The inventory on hand as of January 1 totaled $680,000. From January 1 through the time of the fire, the company made purchases of $165,000 and had sales of $360,000. Assuming the rate of gross profit to selling price is 40%, what was the approximate cost of the inventory that was destroyed? $

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