on a paper with full explanation please

QS 6-12 Estimating Inventorles-gross profit method L06 The inventory of Sixth Avenue Department Store was destroyed by a fire on September 10, 2017. The fol- lowing 2017 data were found in the accounting records: Jan. 1 Inventory. Jan. 1-Sept. 10 purchases (net) Jan. 1-Sept. 10 sales. 2017 estimated gross profit rate $180,000 $342.000 $675,000 42% Estimate the cost of the inventory destroyed in the fire using the gross profit method