7. For the year ended December 31,2015, you are given the following information relative to the income and expense statements for the Sungam Manufacturers, Inc. Sales $1,000,000 95,000 Sales Returns. Cost of Sales Opening Inventories Purchases During the Year Direct Labor Costs Factory Overhead Inventories End of Year $200,000 567,000 240,000 24,400 235,000 On June 15, 2015, a fire destroyed the plant and all of the inventories then on hand. You are given the following information and asked to ascertain the amount of the esti- mated inventory loss. Sales up to June 15 Purchased to June 15 Direct Labor Overhead Salvaged Inventory The estimated inventory loss is $545,000 254,500 233,000 14,550 95,000 A. $95,000 B. $162,450C. $189,450 D. $257,450