Confucius Bookstore's inventory is destroyed by a fire on September 5. The following data for the current year are available from the accounting records Beginning inventory, Jan. 1 Jan. 1 through Sept. 5 purchases net) Jan. 1 through Sept. 5 sales (not) Current year's estimated gross profit $250,000 $344,000 $588,000 38% rate Estimate the cost of the inventory destroyed 5 250,000 Beginning inventory $ 250.000 Estimate the cost of the inventory destroyed. + Beginning inventory $ 250,000 $ 250,000 Estimated September 5 inventory destroyed