James Bookstore experienced a fire that destroyed much of its warehouse in the month of September. The fire occurred on September 13 and on September 14, the Bookstore determines that the cost of books on hand on September 14 is $60,000. The accountant provides you the following information: Inventory on hand on September 1 $84,000 Purchased books received through September 12 63,000 Sales (books delivered to customers) through September 12 105,000 Cost of Goods Sold 75,000 Using the GROSS PROFIT METHOD, estimate the cost of the books on hand on September 12 (the day before the fire) AND the amount of the loss because of the fire so that James can file an insurance claim for the loss. Show your work