10. Ewing Company began June with inventory of 35,000. The business made net purchases of 55,000 and had net sales of 82,500 before a fire destroyed the company's inventory. For the past several years, Ewing's gross profit percentage has been 20%. Estimate the cost of inventory destroyed by the fire. a) 7,500 b) 9,000 c) 24,000 d) insufficient information given