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A company's warehouse was destroyed by a tomado on March 15. The following information was salvaged from the ruins: Inventory, beginning: $62,000 Purchases for the period: $42,500 Sales for the period: $123,000 Sales returns for the period: $1600 The company's average gross profit ratio is 35% What is the estimated cost of the lost inventory? O $25,590.0 O $104,500 $103,500 O $60,410.0 $67,925