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(7 points) The following information is available for October for Barton Company. Beginning inventory$50,000 Net purchases300,000 Net sales400,000 Percentage markup on cost 66.67% _____________A fire

(7 points) The following information is available for October for Barton Company.

Beginning inventory$50,000

Net purchases300,000

Net sales400,000

Percentage markup on cost 66.67%

_____________A fire destroyed Barton's October 31 inventory.Only $10,000 of inventory was salvaged. Using the gross profit method, how much is the estimated inventory destroyed by fire?Round to even amounts.Show your work!!!!

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