24. . Rutherford Company's records indicate the following information for the year: Merchandise inventory, 1/1 $ 400,000 Purchases 2,500,000 Net sales 4,000,000 On December 31, a physical inventory determined that ending inventory of $450,000 was in the warehouse. Rutherford's gross profit on sales has remained constant at 40%. Rutherford suspects some of the inventory may have been taken by some new employees. At December 31, what is the estimated cost of missing inventory? a. $40,000 b. $50,000 c. $100,000 d. $150,000