Crane Legler requires an estimate of the cost of goods lost by fire on March $9.$ Merchandise on hand on January $1$ was $$40,280.$ Purchases since January $1$ were $$76,320$; freight$-$in$,$ $$3,604$; purchase returns and allowances, $$2,544.$ Sales are made at $33\frac{1}{3}\%$ above cost and totaled $$120,000$ to March $9.$ Goods costing $$11,554$ were left undamaged by the fire; remaining goods were destroyed.

$($a$)$

Your answer is correct.

Compute the cost of goods destroyed. $($Round gross profit percentage and final answer to $0$ decimal places, e$.$g$.15\%$ or $125..)$

Cost of goods destroyed $

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$($b$)$

Compute the cost of goods destroyed, assuming that the gross profit is $33\frac{1}{3}\%$ of sales. $($Round ratios for computational purposes to $5$ decimal places, e$.$g$.78\mathrm{.}72345\%$ and final answer to $0$ decimal places, e$.$g$.28,987..)$

Cost of goods destroyed $