On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2021 Net purchases, January 1 through September 22 Het sales, January 1 through September 22 Gross protit ratio $140,000 378,000 590,000 200 Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross profit method. 0 Beginning inventory Plus: Net purchases Cost of goods available for sale Less Cost of goods soldi Net sales Lass. Estimated gross profit Estimated cost of goods sold Estimated cost of Inventory destroyed 0 0 5