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At the beginning of the year, John Co. had inventory of $90,000. During the first three months, purchases were $560,000 and sales were $700,000. John

At the beginning of the year, John Co. had inventory of $90,000. During the first three months, purchases were $560,000 and sales were $700,000. John Company historically has a 40% mark-up on cost. A Tsunami-Tornado destroyed all but $15,000 of the inventory on March 31. How much inventory was lost in the Tsunami-Tornado?

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