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A Company's Store Was Destroyed by an Earthquake on February

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A company's store was destroyed by an earthquake on February 10 of the current year. The only information for the current period that could be salvaged included the following:
 Beginning inventory. January 1: $44,000 Purchases to date: $198,000 Sales to date: $310,000\begin{array} { | l | r | } \hline \text { Beginning inventory. January 1: } & \$ 44,000 \\\hline \text { Purchases to date: } & \$ 198,000 \\\hline \text { Sales to date: } & \$ 310,000 \\\hline\end{array} Historically, the company's gross profit ratio has been 30%. Estimate the value of the destroyed inventory using the gross profit method.

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