An inventory taken the morning after a large theft discloses $61,000 of goods on hand as of March 12 The following additional data is available from the books: $ 82,500 Inventory on hand, March 1 Purchases received, March 1 - 11 Sales (goods delivered to customers) 67.000 108,500 Past records indicate that sales are made at 40% above cost. Estimate the inventory of goods on hand at the close of business on March 11 by the gross profit method and determine the amount of the theft loss. S Inventory of goods on hand Theft loss