Exercise 6-19 (Part Level Submission) Monty Company reported the following information for November and December 2019. Cost of goods purchased Inventory, beginning-of-month Inventory, end-of-month Sales revenue November December $509,000 $ 696,000 108,000 62,120 62,120 ? 816,000 906,000 Monty's ending inventory at December 31 was destroyed in a fire. (a) Your answer is correct. Compute the gross profit rate for November. (Round answer to o decimal places, e.g. 15%.) Gross profit rate SHOW SOLUTION SHOW ANSWER LINK TO TEXT (b) X Your answer is incorrect. Try again. Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire. (Round answer to o decimal places, e.g. 1,250.) Estimated cost of ending inventory -11956) -119567 LINK TO TEXT