to Q4 X Edit &c Franklin Co. has experienced gross profit ratios for 2019, 2018, and 2017 of 34.00%, 29.75%, and 32.25%, respectively. On April 3, 2020, the firm's plant and all its inventory were destroyed by a tornado. Accounting records for 2020, which were available because they were stored in a protected vault, showed the following: Sales from January 1 through April 2 January 1 inventory amount Purchases of inventory from January 1 through April 2 $ 145,720 63,030 118,930 Required: Calculate the amount of the insurance claim to be filed for the inventory destroyed in the tornado. (Hint Use the cost of goods sold model and a gross profit ratio that will result in the largest claim.) (Do not round Intermediate calculations.) Insurance claim