On September $22,2024,$ a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is avallable from the records of the company's periodic inventory system:

Inventory: January $1,2024$

Net purchases, January $1$ through September $22$

$157,000$

$387,000$

$635,000$

Net sales, January $1$ through September $22$

gross profit ratio

$36\%$

Requlred:

Complete the below table to estimate the cost of inventory destroyed in the flood using the gross profit method.

$\backslash$table$[[$Beginning inventory,$,],[$Plus: Net punchases,$,],[$Cost of goods avallable for sale,,$0],[$Less: Cost of goods sold:,,$],[$Net sales,,$],[$Less: Esxmeted grose profit,,$],[$Estimsted cost of goods sold:,,$0],[$Estimated cost of inventory destroyed,$8,0]]$