Robin Company sells merchandise at a gross profit rate of 30%. On June 30, 2022, all the inventory was destroyed by fire. The following figures pertain to the operations for six months ended June 30,2022: Net Sales - 8,000,000; Beginning Inventory - 3,000,000; Net purchases - 6,000,000. What is the estimated cost of the destroyed inventory? *

1 point

a. 1,600,000

b. 3,400,000

c. 2,000,000

d. 1,700,000