Please Do not copy and paste the solution from other resource. The numbers are different.

Please Do not copy and paste the solution from other resource. The numbers are different.

Please Do not copy and paste the solution from other resource. The numbers are different.

Problem 9.5 Gracie's Gobbers, Inc. was robbed! She needs to file a claim for the loss with her insurance company. She knows that last year she ended the year with $450,000 in inventory and after going through her invoices she finds she had purchased $325,000 in inventory this year up to the date of the robbery. Her sales so far this year were $1,200,000. She estimates that her gross margin averages 45%. How much inventory did she lose in the robbery? Show your calculations