P$6-10$B Estimate inventory loss using gross profit method

Liis Company lost $70\%$ of its inventory in a fire on March $25,2015.$ The accounting records showed the following gross profit data for February and March.

Net sales

Net purchases

Freight$-$in

Beginning inventory

Ending inventory

$\backslash$table$[[$February$,\backslash$table$[[$March $($to$],[\frac{3}{25})]]],[$$$300,000,$$$250,000$