QUESTION 3 PART B - (5 marks) An explosion occurred at All Chemicals on the night of April 11 and destroyed the entire inventory. The accounting records, which survived the explosion, contained the following account balances from January 1 to April 11. Sales.... $330,700 Sales returns and allowances. 4,200 Purchases... 285,000 Purchases returns and allowances.... 3,150 Inventory balance, January 1... 59,300 The gross profit margin has averaged 42% of net sales over the last 3 years. Required: Determine the cost of the inventory that has been destroyed