On March 17, 2018, a flood destroyed the entire inventory of Beatty Co. The following information is available from its accounting records: 
Compute the estimated cost of inventory lost in the flood.
Definitions:
Duty of Care
A duty enforced by law on a person to act with reasonable care in activities that could potentially harm other individuals.
Negligence
Not acting with the caution a reasonably careful person would use in similar situations.
Defence
Defence refers to the argument or strategy used by an individual or party to oppose or fight against a claim or accusation in legal proceedings.
Standard of Care
The degree of prudence and caution required of an individual who is under a duty of care.
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