A flood destroyed a company's warehouse contents on September 12. The following information was the only information that was salvaged: 1. Inventory beginning: $28,400 2 Purchases for the period: $17.400 3. Sales for the period: $55,400 4. Sales returns for the period: $740 The company's average gross profit ratio is 39%. What is the estimated cost of the lost inventory using the gross profit method? Multiple Choice $12.45740 $45.800.00 $24.48260