3 A flood destroyed a company's warehouse contents on September 12. The following information was the only information that was salvaged: 1. Inventory, beginning: $29,900 2. Purchases for the period: $18,900 3. Sales for the period: $56,900 4. Sales returns for the period: $890 The company's average gross profit ratio is 21%. What is the estimated cost of the lost inventory using the gross profit method? 00:56-50 Ask Multiple Choice $38.55200 $47800.00 O $4,56230 $48.800.00