On February 26, a hurricane destroyed the entire inventory stored in a warehouse owned by the Rockford ng information is available from the records of the company's periodic inventory system: beginning inventory, $245,000; purchases and net sales from the beginning of the year through February 26, $450,000 and $650,000, respectively; gross profit ratio, 30%. The cost of inventory destroyed by the hurricane using the gross profit method would be: O $240,000. 0 $45,000. 0 $500,000. 0 $360,000