Ch 6 quiz Excel part one of one [Compatibility Mode] - Excel 5e HOME FILE INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW NITRO PRO Calibri - General Bad E Copy 11 HAA = = A. Wrap Text Merge & Center Normal Neutral Paste Normal 2 Conditional Format as Good Formatting Table 1898 Calcul *Format Painter Clipboard A14 2 Prob. #5 3. On August 15, 2019, a flood destroyed the entire merchandise inventory of Midnight Supplies. The following information is available on August 15: (6 Points) Sales Inventory, January 1 Purchases Purchase returns Gross profit on sales $1,400,000 240,000 800,000 20,000 45% RW 00 12 Instructions: Using the gross profit method, estimate the amount of inventory lost from the flood. 13 SHOW CALCULATIONS BELOW