Required information (The following information applies to the questions displayed below.] 3 The inventory of Don's Grocery was destroyed by a tornado on October 6 of the current year. Fortunately, some of the accounting records were at the home of one of the owners and were not damaged. The following information was available for the period of January 1 through October 6: Beginning inventory, January 1 Purchases through October 6 Sales through October 6 $ 74,400 364,000 537,000 5:47 Gross margin for Don's has traditionally been 25 percent of sales. Required a. For the period ending October 6, compute the following: 1. Estimated gross margin 2. Estimated cost of goods sold 3 Estimated inventory at October 6 Required information (The following information applies to the questions displayed below.) The inventory of Don's Grocery was destroyed by a tornado on October 6 of the current year. Fortunately, some of the accounting records were at the home of one of the owners and were not damaged. The following information was available for the period of January 1 through October 6: Beginning inventory, January 1 Purchases through October 6 Sales through October 6 $ 74,400 364,000 537,000 Gross margin for Don's has traditionally been 25 percent of sales. b. Assume that $10,500 of the inventory was not damaged. What is the amount of the loss from the tornado? Total loss