16 00:26:07 Itranscript Confucius Bookstore's Inventory is destroyed by a fire on September 5. The following data for the current year are available from the accounting records Beginning inventory, January 1 January 1 through September 5 purchases (net) January 1 through September 5 sales (net) Current year's estimated gross profit rate $ 200,000 $390,000 $ 796,000 42V Estimate the cost of the inventory destroyed. Beginning inventory Estimated September 5 inventory destroyed $ 200,000 $ 200,000