uly 8. a fire destroyed the entire merch Corpo entire t Sales, January 1 through July enory anury tough July s Gross profit ratio hro January A) $192,000. B) $490,000. C) $510,000. D) $280,000. the estimated inventory on July 8 immediasely prior to the finc? 130.000 640 000 14) Data related to the inventories of Mountain Ski Equipment and Supplies is prescenilod bel Boots Apparel S 150,000 120,000 Supplies 60,000 48,000 Selling price 180,000 128,000 133,000 Cost Replacement 120,000 130,000 1100 50,000 Sales commission Normal gross profit ratio 10% 10% 10% 10% 20% 20% 15% In applying the lower of cost or market rule, the inventory of supplies would be valued at A) $45,000, B) $54,000. C) $50,000. D) $48,000