Question: On September 2 2 , 2 0 2 4 , a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the

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:
Inventory, January 1,2024
Net sales, January 1 through Septemer 388,000
Gross profit ratio 2250,000
Required:
Complete the below table to estimate the cost of inventory destroyed in the flood using the gross profit method.
On September 22,2024, a flood destroyed the entire merchandise inventory on

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