past several years, Butterfly Cor with imentory of $192,000. The business made net purchastes of $535,000 and had net sales of $910,000 before a fire destroyed the company's inventory For the Required 1. Estimate the cost of the inventory destroyed by the fre. 2. Identify another reason owners and managers uso the gross margin method to estimale invontory on a regular basis. Requirement 1. Estimato the cost of the inventory destroyed by the fire. Requirement 2. identify another reason owners and managers use the gross margin mothod to estimulo inventory on a tegular bas/s. Another reason owners and managors use the gross marpin method to esimate hventory cost on a regular basis is to determine ade net purchases of $635,000 and had net sales of $910,000 before a fire destroyed the company's inventory. Fo rcent. to estimate inventory on a regular basis. s margin method to estimate inventory on a regular basis. nate inventory cost on a regular basis is to determine the cost of ending inventory for interim financial statements. net purchases. gross sales revenue