Question - 4 (05) The merchandise inventory of Ayan & Co. was destroyed by fire on 4th May 2021. The following data were obtained from the accounting record: Opening Inventory Purchases Purchases Returned & Allowance Sales Sales Return & Allowance Estimated Gross Profit Rate 1,120,000 1,056,000 52,000 2,870,000 8,000 41% Required Compute the estimated cost of merchandise inventory destroyed by fire