Blue Spruce Corporation's March 31 inventory was destroyed by fire. January 1 inventory was $171,000, and purchases for January through March totaled $592,80O. Sales revenue for the same period was...

Extracted text: Blue Spruce Corporation's March 31 inventory was destroyed by fire. January 1 inventory was $171,000, and purchases for January through March totaled $592,80O. Sales revenue for the same period was $684,000. Blue Spruce's normal gross profit percentage is 25% on sales. Using the gross profit method, estimate Blue Spruce's March 31 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $