Choose the best option O $ 120,000 Question # 43 Revisit Lin Co. sells its merchandise at a gross profit of 30%. The following figures are among those pertaining to Lin's operations for the 6 months ended June 30, 2006: Sales $200,000 Beginning inventory 50,000 Purchases 130,000 On June 30, 2006, all of Lin's inventory was destroyed by fire. The estimated cost of this destroyed inventory was $ 70,000 O $ 40,000 O $ 20,000