QUESTION 4 8 points Save Answer On December 31, 2015 RBT Company's inventory burned. Not sales and not purchases for the year had been $700.000 and 5490.000, respectively. The beginning inventory (Jan 1, 2015) was $85,000. The gross profit ratio was 60% of cost Instructions Compute the estimated cost of inventory burned by the gross profit method as of December 31, 2015