Help Save & Exit Submit On July 8, a fire destroyed the entire merchandise inventory on hand of Larrenaga Wholesale Corporation. The following information is available: Sales, January 1 through July 8 Inventory, January 1 Purchases, January 1 through July 8 Gross profit ratio $681,000 141,000 650,000 28 What is the estimated inventory on July 8 immediately prior to the fire? Multiple Choice o $302,280 O o $490,320 O O $182,000