13. (4 marks) In the early morning of January 1, 2018, Minnesota Corp.'s inventory was destroyed by fire. The following information was available for calendar 2017: Sales ......... ............................ $950,000 Net purchases ...................... 600,000 Beginning inventory .............. 110,000 Minnesota's gross profit on sales has averaged 35% for several years. Required: Calculate the estimated cost of the inventory destroyed. Clearly show and label calculations for possible part marks