Franklin Co. has experienced gross profit ratios for 2019, 2018, and 2017 of 34.00%, 29.50%, and 31.25%, respectively. On April 3. 2020, the firm's plant and all its inventory were destroyed by a tornado. Accounting records for 2020, which were available because they were stored in a protected vault, showed the following: Sales from January 1 through April 2 January 1 inventory amount Purchases of inventory from January 1 through April 2 $149,490 63,440 118,631 Required: Calculate the amount of the insurance claim to be filed for the inventory destroyed in the tornado. (Hint: Use the cost of goods sold model and a gross profit ratio that will result in the largest claim.) (Do not round intermediate calculations.) Insurance claim