5 1 i View Policies Show Attempt History Current Attempt in Progress The inventory of Tamarisk, Inc. was destroyed by fire on March 1. From an examination of the accounting records, the following data for the first 2 months of the year are obtained: Sales Revenue $ 53.000, Sales Returns and Allowances $1,400, Purchases $ 39,000, Freight-in $ 1,200, and Purchase Returns and Allowances $ 1,700. Determine the merchandise lost by fire, assuming Part 1 Your answer is correct. A beginning inventory of $ 21.000 and a gross profit rate of 45% on net sales Estimated cost of merchandise lost $ 31120 eTextbook and Media Attempts: unlimited Part 2 Part 2 Your answer is incorrect A beginning inventory of $ 36,500 and a gross profit rate of 30% on net sales. Q Estimated cost of merchandise lost $ Qu e Textbook and Media vie AR Save for Later Last saved 1 minute ago Attempts: unlimited Submit Answer Que