A Fire Destroyed the Inventory of Mantis Company in June

A fire destroyed the inventory of Mantis Company in June. Reconstructed data follows: $$\begin{array} { | l | r } \hline \text { Gross margin as a percentage of sales } & 40 \% \\\hline \text { Sales to date of fire } & 460,000 \\\hline \text { Gross purchases to date of fire } & 280,000 \\\hline \text { Purchase returns and allowances to date of fire } & 8,000 \\\hline \text { Freight-in } & 4,000 \\\hline \text { Sales returns } & 10,000 \\\hline \text { Beginning inventory } & 28,000 \\\hline\end{array}$$ What was the cost of the inventory lost in the fire?

A) $50,000
B) $34,000
C) $30,000
D) $26,000