A fire destroyed a warehouse of the Goren Group, Inc. on May 4, 2021. Accounting records on that date indicated the following: Merchandise inventory, January 1 2021 Purchases to date Freight-in Sales to date $1,990,000 3,800,000 499,990 8,200,000 The gross profit ratio has averaged 20% of sales for the past four years. Required: Use the gross profit method to estimate the cost of the inventory destroyed in the fire Answer is complete but not entirely correct. S 14,600,000