Greenville Company, a camera store, lost some inventory in a fire on May 15. To file an insurance claim, the company must estimate its May 15 inventory using the gross profit method. For the past two years, Greenville Company's gross profit has averaged 44% of net sales. Its inventory records reveal the following data: (Click the icon to view the data.) Read the requirements. Estimated cost of ending inventory lost $ 93,980 Requirement 2. Prepare the income statement for May 1 to May 15 for this product through gross profit. Show the detailed computations of cost of goods sold in a separate schedule. Begin by showing the detailed computations of cost of goods sold. Add: Less: Less: Cost of goods sold