43 On July 8, a fire destroyed the entire merchandise inventory on hand of Larrenaga Wholesale Corporation. The following information is available: 00:13:11 Sales, January 1 through July 8 Inventory, January 1 Purchases, January 1 through July 8 Gross profit ratio $697,000 140,000 649,000 27% What is the estimated inventory on July 8 immediately prior to the fire? Multiple Choice $280,790. $508,810 $280,190. $175,230