1: Data Table Inventory, December 1 Transactions December 1-15: Purchases Purchases discounts Purchase returns Sales $ 57,500 490,500 14,000 70,200 666,000 2: Requirements 1. Estimate the cost of the lost inventory using the gross profit method. 2. Prepare the income statement for December 1 to December 15 for this product through gross profit. Show the detailed computations of cost of goods sold in a separate schedule.