Cressley Antiques, Inc, began March with inventory 549.700. The business made net purchases of $51.500 and had net sales of $71,400 before a fire destroyed the company's inventory. For the past several years, Cressley's gross profit percentage has been 35% Read the requirement Use the gross margin method to estimate the cost of inventory destroyed. X * Requirement Cost of goods available Estimated cost of goods sold 1. Estimate the cost of the inventory destroyed by the fire. Identify another reason that owners and managers use the gross profit method to estimate inventory Less Print Done Estimated cost of goods sold Estimated cost of inventory destroyed