QUESTION 7 The following information is available for October for Your Company. Beginning inventory $ 50,000 Net purchases 300,000 Net sales 400,000 Percentage markup on cost 66.67% An avalanche (think cold!) destroyed your October 31 inventory. Only $10,000 of inventory was salvaged. Using the gross profit method to calculate the following amounts. Round to even amounts. How much is Cost of Goods Sold? How much is Cost of Goods Available? How much should inventory have been if there had been no Avalanche? Uw much is the estimated inventory lost in the snow