0 Buty Company began September with inventory of $32,000. The bushes made of purchases of 640.000 and had a 45.000 ore fredered the company's inventory For the past several yeay Company's go margin on sale has been percent Required 1. Estimate the cost of the inventory destroyed by the fire 2. Idently another reason owners and managers we the gross margin method to estimate inventory on a regular basis Beginning inventory Cost of goods available for sale Estimated cost of goods sold Less Estimated ending inventory Requirement 2. Identify another reason owners and managers use the gross margint method to estimate inventory on a regular basis Another reason owners and managers use the gross margin method to estimate Inventory cost on a regular basis