Callahan Computers stores its inventory in a warehouse that burned to the ground in late November, 2012. Their sales office was at a different location. In order to file a claim with their insurance, the owners ask you to estimate the inventory in the warehouse. The following information is available: 
The company's Gross profit has historically been 40% of Net sales revenue. Estimate the value of the inventory destroyed in the fire using the Gross profit method.
Definitions:
Monetary Damages
Financial compensation awarded to an individual for loss or injury as a result of the violation of a legal right.
Injunction
A legal order issued by a court that compels a party to do or refrain from specific acts.
Judicial Proceeding
A formal process before a court of law involving the adjudication of legal claims or disputes.
Contract
An agreement that can be enforced in court; formed by two or more parties, each of whom agrees to perform or to refrain from performing some act now or in the future.
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