A company's storc was destroyed by a fire on ebruary 10 of the current year. The only information for the current period that could he salvaged included the following: Bcginning inventory. January : $34.000 Purchases to date: SI18,000 Sales to datc: S140,000 listorically. Ihe company's gross profit ratio has heen 30%. Estimate the alue ofthe destroved inventory using the gross proit mcthod