Sandhill Legler requires an estimate of the cost of goods lost by fire on March $9.$ Merchandise on hand on January $1$ was $$37,240.$

Purchases since January $1$ were $$70,560$; freight$-$in$,$ $$3,332$; purchase returns and allowances, $$2,352.$ Sales are made at $33\frac{1}{3}\%$

above cost and totaled $$111,000$ to March $9.$ Goods costing $$10,682$ were left undamaged by the fire; remaining goods were

destroyed.

$($a$)$

Your answer is incorrect.

Compute the cost of goods destroyed. $($Round gross profit percentage and final answer to $0$ decimal places, e$.$g$.15\%$ or $125.)$

Cost of goods destroyed

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