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Quebec Traffic Company had a fire on March 1 0 , 2 0 2 3 , that destroyed a major portion of its inventory. The

Quebec Traffic Company had a fire on March 10,2023, that destroyed a major portion of its inventory. The salvaged accounting records contained the following information:
Sales, January 1 to March 10
Net merchandise purchased January 1 to March 10
Additional information was determined from the 2022 annual report:
Income statement:
Sales
cost of goods sold
$3,370,090
Balance sheet:
Merchandise inventory
Quebec Traffic was able to salvage inventory with a cost of $107,100.
Required:
Determine the amount of Inventory lost by Quebec Traffic as a result of the fire. Quebec Traffic has a December 31 year-end. (Round the "Gross profit ratio" to the nearest whole percent.)
Amount of inventory lost
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