On April 24 of the current year, The Memphis Pecan Company experienced a tornado that destroyed the company's entire inventory. At the beginning of April, the company reported beginning inventory of $228,450. Inventory purchased during April (until the date of the tornado) was $199,500. Sales for the month of April through April 24 were $644,200. Assuming the company's typical gross profit ratio is 50%, estimate the amount of inventory destroyed in the tornado. Multiple Choice $216,250 $213,975 $158,638 $105,850 $322,100