39 TB MC Qu. 05-140 (Algo) A flood destroyed a company's warehouse... A flood destroyed a company's warehouse contents on September 12. The following Information was the only Information that was salvaged 1. Inventory, beginning: $29,500 2. Purchases for the period: $18,500 3. Sales for the period: $56,500 4. Sales returns for the period: $850 The company's average gross profit ratio is 25%. What is the estimated cost of the lost inventory using the gross profit method Multiple Choice $0.262.50 $34.007.50 $34.000.00 $44.000.00