Exercise 6-19 a-b (Part Level Submission) Ivanhoe Company reported the following information for November and December 2020. November December Cost of goods purchased Inventory, beginning-of-month Inventory, end-of-month Sales revenue $537,000 124,000 140,200 840,000 $ 610,000 140,200 ???? 1,000,000 Ivanhoe's ending inventory at December 31 was destroyed in a fire. (a) X Your answer is incorrect. Try again. Compute the gross profit rate for November. (Round answer to o decimal places, e.g. 15 Gross profit rate 40% Click if you would like to Show Work for this question: Open Show Work