6. Gross Profit Method Daveco experiences massive flooding of his warchouse and needs to file an insurance claim. Because the inventory all floated away it's impossible to count. Here's what Daveco knows: Beginning Inventory Freight In Freight Out Purchases $25,000 1,200,000 85,000 40% $200,000 12,000 18,000 750,000 Purchase Returns Sales Inventory salvaged Standard Gross Profit (as a % of sales) For how much should Daveco file the claim with the insurance company for lost inventory? (8 points)