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

1. Inventory, beginning: $28,600

2. Purchases for the period: $17,600

3. Sales for the period: $55,600

4. Sales returns for the period: $760

The company's average gross profit ratio is 34%. What is the estimated cost of the lost inventory using the gross profit method?

$46,200.00 $45,200.00 $10,005.60 $27,554.40. $30.492.00