On August 31, a hurricane destroyed a retail location of Ivanhoe's Clothier including the entire inventory on hand at the location The inventory on hand as of June 30 totaled $1930000. Since June 30 until the time of the hurricane, the company made purchases of $516000 and had sales of $1508000. Assuming the rate of gross profit to selling price is 40%, what is the approximate value of the inventory that was destroyed? O $1930000 O $1025200 O $1541200. O $1842800. Seve for Later Attempts: 0 of 1 used Submit