y & Practice Gradebook ORION Downloadable eTextbook Assignment NEXT RCES Question 3 John Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $39,600. Purchases since January 1 were $71,500; freight in, $3,500, purchase returns and allowances, $2.200. Sales are made at 33 1/3% above cost and totaled S90,000 to March 9 Goods costing Sii00 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to 0 decimal places, e.g. 15% or 125) dy Cost of goods destroyed Compute the cost of goods destroyed, assuming that the gross profit is 33 1/3% of sales. (Round ratios for computational purposes to 5 decimal places, eg. 78.72345% and final answer to 0 decimal places, e.g. 28,987.) Cost of goods destroyeds By accessing this Question Assistance, you will learn while you earm points based on the Point Potential Polloy set by your instructor Question Attempts: 0 of 3 used