Question 12 The Daniel Company's inventory was partially destroyed on July 4, 20x1, when its warehou on fire early in the morning. Inventory that had a cost of $8,000 was saved. The accounting which were located in a fireproof vault, contained the following information: $260,000 Sales (1/1/x1 through 7/3/X1) Purchases (1/1/x1 through 7/3/X1) 190,000 Inventory (1/1/x1) 30,000 Gross profit margin 30% of net sales Using the gross profit method, what is the estimated cost of the inventory destroyed by the O $40,000 $30,000 $25,000 $22.000