. On April 15 of the current year, a fire destroyed the entire uninsured inventory of a retail store. The following data are available: Sales, January 1 through April 15 $480,000 Inventory, January 1 80,000 Purchases, January 1 through April 15 400.000 Markup on cost 25% What is the estimated amount of the inventory loss? a. $96,000. b. $48,000. c. $120,000 d. $80,000. O $48,000 $120,000 $80,000 $96,000