The cost of the ending imventory is: Muliple Choice 5360 5720 9475 3600 On September 1 of the current year, Scots Company experienced a flood that destroyed the company's entire inventory. Because the company had not completed its month end reporting for August, it must estimate the amount of imventory lost using the gross profit method. At the beginning of August, the company reported beginning irwentory of $215,600. Inventory purchased during August was $192,590. Net Sales for the month of August were $542,800. Assuming the company's typical gross profit ratio is 40%, estimate the amount of inventory destroyed in the flood. Multiple Choice $82,510 $134,610 $87.510 $191,070 $81,590