Exercise 9-16 Gheorghe Moresan Lumber Company handles three principal lines of merchandise with these varying rates of gross profit on cost. Lumber 25% Millwork 30% Hardware and fittings 40% On August 18, a fire destroyed the office, lumber shed, and a considerable portion of the lumber stacked in the yard. To file a report of loss for insurance purposes, the company must know what the inventories were immediately preceding the fire. No detail or perpetual inventory records of any kind were maintained. The only pertinent information you are able to obtain are the following facts from the general ledger, which was kept in a fireproof vault and thus escaped destruction. Lumber Millwork Hardware Inventory, Jan. 1, 2014 $273,200 $93,960 $46,000 Purchases to Aug. 18, 2014 1,513,900 384,000 161,600 Sales to Aug. 18, 2014 2,057,100 557,440 265,720 Submit your estimate of the inventory amounts immediately preceding the fire. Lumber Millwork Hardware Inventory $ $ $