An accounting clerk of the Blakely Company absconded with cash and a truck full of electronic merchandise on May 14, 20X4. The following data have been compiled for 20X4: Beginning inventory, January 1 Sales to May 14, 20X4 Average gross profit rate Purchases to May 14, 20X4 $ 55,000 300.000 25% 210,000 Compute the estimated cost of the ending inventory and indicate how you could use that value to estimate the cost of the missing merchandise