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The following information is available for October for Blossom Company. (Round answers to 0 decimal places, e.g. 5,275.) Beginning inventory$500000 Net purchases1400000 Net sales2800000Percentage markup

The following information is available for October for Blossom Company.(Round answers to 0 decimal places, e.g. 5,275.)

Beginning inventory$500000

Net purchases1400000

Net sales2800000Percentage markup on cost66.67%

A fire destroyedBlossom's October 31 inventory, leaving undamaged inventory with a cost of $29000. Using the gross profit method, the estimated ending inventory destroyed by fire is

$717667.

$746667.

$191000.

$900000

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