Bakstreet Company wants to estimate inventory destroyed by flood.Its average gross profit percentage is 37%.The following information is available: 
Instructions: Calculate the value of the destroyed ending inventory using the gross profit method.Round numbers to the nearest dollar,if necessary.
Definitions:
Stress Consistently
implies the continuous application or presence of force on an object or material over a period of time.
Seismic Waves
Waves of energy that travel through the Earth's layers, produced by earthquakes or other earth movements, used to study the interior of the Earth.
Epicenter
The point on the Earth's surface that is directly above the focus of an earthquake, where the seismic waves are felt most strongly.
Hypocenter
The point within the Earth where an earthquake originates, also known as the focus of the earthquake.
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