5 of 5 < View Policies Current Attempt in Progress -/15 !!! Sheffield Pottery lost 70% of its inventory in a fire on March 25, 2020. The accounting records showed the following gross profit data for February and March. February March (to 3/25) Net sales 288,000 249,600 Net purchases 189,888 183,360 Freight-in 2,784 3,840 Beginning inventory 4,320 24,192 Ending inventory 24,192 ? Sheffield is fully insured for fire losses but must prepare a report for the insurance company. Compute the gross profit rate for the month of February. (Round answer to 2 decimal places, e.g. 25.16%.) The gross profit rate for the month of February % eTextbook and Media Using the gross profit rate for February, determine both the estimated total inventory and inventory lost in the fire in March. (Round answers to O decimal places, e.g. 1,250.) The estimated total inventory Inventory lost in the fire in March eTextbook and Media