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

Inventory, beginning: $$29,700$

Purchases for the period: $$18,700$

Sales for the period: $$56,700$

Sales returns for the period: $$870$

The company's average gross profit ratio is $23\%.$ What is the estimated cost of the lost inventory using the gross profit method?

Multiple Choice

$$48,400\mathrm{.}00.$

$$37,268\mathrm{.}00.$

$$35,559\mathrm{.}10.$

$$47,400,00.$