The Cotton Mill is a trader in Australian Kinen. On January 3, 2012, a fire destroyed some of a sole trader's inventory and its inventory records. The following information is available: S leventory January 1 320.060 Sales for January 620.060 Purchases for January 406,060 Inventory in good condition on Jammary 31 215.000 Standard gross profit percentage on sales is 250% Based on the information, what is the value of inventory that was lost? $46,000 $92.000 $40,000 O $261,000