Coastal Shores Inc.(CSI)was destroyed by Hurricane Fred on August 5,2016.At January 1,CSI reported an inventory of $170,000.Sales from January 1,2016,to August 5,2016,totaled $480,000 and purchases totaled $195,000 during that time.CSI consistently marks up its products 60% over cost to arrive at a selling price.The estimated inventory loss due to Hurricane Fred would be:
A)$131,175.
B)$ 65,000.
C)$ 69,000.
D)None of these answer choices are correct.

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The Answer of Coastal Shores Inc.(CSI)was destroyed by Hurricane Fred on August 5,2016.At January 1,CSI reported an inventory of $170,000.Sales from January 1,2016,to August 5,2016,totaled $480,000 and purchases totaled $195,000 during that time.CSI consistently marks up its products 60% over cost to arrive at a selling price.The estimated inventory loss due to Hurricane Fred would be:
A)$131,175.
B)$ 65,000.
C)$ 69,000.
D)None of these answer choices are correct.