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 available from the records of the companys periodic inventory system: Inventory, January 1, 2024 $ 144,000 Net purchases, January 1 through September 22 374,000 Net sales, January 1 through September 22 570,000 Gross profit ratio 30% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gro