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The following information is available for October for Oriole Company. Beginning inventory $430000 Net purchases 1260000 Net sales 2520000 Percentage markup on cost 66.67% A

The following information is available for October for Oriole Company.

Beginning inventory

$430000

Net purchases

1260000

Net sales

2520000

Percentage markup on cost

66.67%

A fire destroyed Orioles October 31 inventory, leaving undamaged inventory with a cost of $25500. Using the gross profit method, the estimated ending inventory destroyed by fire is

A)$646500.

B)$830000.

C)$152500.

D)$672000.

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