On August 31, 2021, Hurricane Chuck destroyed Bedford Craft Mart's entire inventory. The following information is available from its accounting records: Inventory, January 1, 2021 Purchases, Jan. 1 - Aug. 31 Sales, Jan. 1 Aug. 31 $ 360,000 960,000 1,350,000 Required: Assuming that Bedford estimates the cost of destroyed inventory at $510,000, compute gross profit margin % that Bedford uses in estimating inventory. Gross profit margin %