QS 6-22B Estimating inventories-gross profit method LO P4 Confuclus Bookstore's Inventory is destroyed by a fire on September 5, 2017. The following data for year 2017 are avallable from the accounting records. $230,000 $342,000 $684,0060 39% Jan. 1 inventory an. 1 through Sept. 5 purchases (net) an. 1 through Sept. 5 sales (net) Year 2017 estimated gross profit rate Estimate the cost of the Inventory destroyed. Beginning inventory S 230,000 S 230,000 Estimated September 5 inventory destroyed