QS 6-12 Estimating Inventories gross profit method LO6 The inventory of Sixth Avenue Department Store was destroyed by a fire on September 10, 2017. The fol- lowing 2017 data were found in the accounting records Jan. 1 Inventory Jan. 1-Sept. 10 purchases (net). Jan. 1-Sept. 10 sales... 2017 estimated gross profit rate $150,000 $342.000 $675,000 Estimate the cost of the inventory destroyed in the fire using the gross profit method