Bramble Company lost all of its inventory in a fire on December 26, 2022. The accounting records showed the following gross profit data for November and December. Net sales Beginning inventory Purchases Purchase returns and allowances Purchase discounts Freight-in Ending inventory November $630,000 32,700 384,700 4,400 7,500 9.200 36,700 December (to 12/26) $698,000 36,700 421,000 14.800 8,700 9.900 ? Bramble is fully insured for fire losses but must prepare a report for the insurance company (b) Using the gross profit rate for November, determine the estimated cost of the inventory lost in the fire. Estimated inventory lost in fire $