If you would, could you help me by going into detail on how answering #3 differs from answering #4??

I'd like a step-by-step process demonstrating the formulas. Any exposition would be greatly appreciated.

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3. Singleton Co. has the following items:

BB, INV ($700K), Purchases ($2M), Sales ($2.97M), gross profit as a percentage of sales (35%).

Assuming Singletons entire INV is destroyed, what is the estimated amount of INV destroyed?

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4. Singleton Co. has the following items:

BB, INV ($700K), Purchases ($2M), Sales ($2.97M), gross profit as a percentage of cost (35%).

Assuming Singletons entire INV is destroyed, what is the estimated amount of INV destroyed?

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5. For #4, what is the dollar amount of gross profit?

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6. For #4, what is gross profit as a percentage of sales (to the nearest whole percent)?