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 $228,150. Inventory purchased during April (until the date of the tornado) was $199,200. Net Sales for the month of April through April 24 were $643,900. Assuming the company's typical gross profit ratio is 50%, estimate the amount of inventory destroyed in the tornado.

On April 24 of the current year, The Memphis Pecan Company experlenced a tomado that destroyed the company's entire inventory. At the beginning of April, the company reported beginning Inventory of $228,150. Inventory purchased during Aprll (untll the date of the tomado) was $199,200. Net Sales for the month of April through April 24 were $643,900. Assuming the company's typical gross profit ratio is 50%, estimate the amount of Inventory destroyed in the tomado. Multple Choice $213,675 $216.550 $158,498 $321,950 $105,400