soy NAME B) Beavis Inc. had some inventory lost in a fire on October 15. To file an insurance claim, th company must estimate its October 15 inventory using the gross profit method. For the past years Beavis's gross profit averaged 41% of net sales. Its inventory records revca Inventory, October 1 S 37,700 Transactions, October 1-15: Purchases 490,800 Purchase discounts 17,000 Purchase returns 70,900 Sales 660,000 REQUIRED: Estimate the cost of the lost inventory using the gross profit method