A company's warehouse contents were destroyed by a flood on September 12. The following information was the only information that was salvaged:

Inventory, beginning: $28,800

Purchases for the period: $17,800

Sales for the period: $55,800

Sales returns for the period: $780

The company's average gross profit ratio is 32%. What is the estimated cost of the lost inventory?

Multiple Choice

$46,600.00.

$9,186.40.

$31,688.00.

$45,600.00.

$28,993.60.