@ Question 15 Tusker Inc., has a fiscal year end on December 31. On May 16, 2021, a flood damaged the entire inventory. Since Tusker Inc. uses the periodic system, they need to estimate the cost of damaged inventory. The following information was available: Beginning Inventory $ 19,000 Sales Purchases $400,000 $300,000 Historical Gross Profit percentage 30% The balance of inventory on the books of Tusker Inc. as of May 16, 2021 is: Question 14 Tusker Inc., has a fiscal year end on December 31. On May 16, 2021, a flood damaged the entire inventory. Since Tusker Inc. uses the periodic system, they need to estimate the cost of damaged inventory. The following information was available: Beginning Inventory $ 19,000 Sales Purchases $400,000 $300,000 Historical Gross Profit percentage 30% The amount of inventory damaged in the flood is: A-$19,000 2/2 A-$19,000 1/2 x