A fired completely destroyed the entire inventory of Printing Delight Co on March 15, 20__. Fortunately, the books were not destroyed in the fire. The following information is taken from the books of Printing Delight Co. for the time period, January 1, 20__ through March 15, 20__:

 

Beginning inventory, January 1, 20 Net purchases, January 1, through March 15, 20 Net sales, January 1, through March 15, 20 Normal gross profit percentage of sales $ 45,000 252,000 378,000 37% Required: 1. Estimate the cost of goods sold for the time period January 1 through March 15, 20 using the gross profit method. Estimate the amount of merchandise inventory destroyed in the fire on March 15, 20 gross profit method. 2. using the