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9 Jenrose Company began August with Inventory 0125236000. The business made net purchases of $640000 and had net sales of $910,000 before a re destroyed the company's inventory For the past several years. Jenrose Company's gross margin on sales has been 36 percent Required 1. Estimate the cost olthe inventory destroyed by the re 2. Identity another reason owners and managers use the gross margin method to estimate inventory on a regular basis. Requirement 1. Estimate the cost of the inventory destroyed by the re. Cost of goods available for sale Estimated cost of goods sold: Less' Estimated ending inventory Requirement 2. Identity another reason owners and managers use the gross margin method to estimate inventory on a regular basis. Another reason owners and managers use the gross margin method to estimate inventory cost on a regular basis is