(Learning Objective 4: Estimating inventory by the gross profi t method) R B Company began June with inventory of €45,800. The business made net purchases of €31,900 and had net sales of €64,500 before a fi re destroyed the company’s inventory. For the past several years, R B’s gross profi t percentage has been 45%. Estimate the cost of the inventory destroyed by the fi re. Identify another reason owners and managers use the gross profi t method to estimate inventory.