The following information is available for Naab Company for 2010: The cost of goods sold is equal to 400% of selling expenses. What is the cost of goods available for sale? A) $600,000. B) $890,000. C) $815,000. D) $860,000. E) None of the above. On August 31, a hurricane destroyed a retail location of Vinny's Clothier including the entire inventory on hand at the location. The inventory on hand as of June 30 totaled $320,000. Since June 30 until the time of the hurricane, the company made purchases of $85,000 and had sales of $250,000. Assuming the rate of gross profit to selling price is 40%, what is the approximate value of the inventory that was destroyed? A) $155,000. B) $181, 500. C) $205,000. D) $255,000. E) None of the above