** I POSTED THIS QUESTION ALREADY AND THEY GAVE ME THE ABOVE NUMBERS BUT THEY ARENT RIGHT. PLEASE POST HOW YOU GOT THE ANSWER.

Gross Profit Method: Estimation of Theft Loss You are requested by a client on September 28 to prepare an insurance claim for a theft loss that occurred on that day. You immediately take an inventory and obtain the following data: $51,000 Inventory, September 1 Purchases, September 1-September 28 $38,000 Sales, September 1-September 28 19,000 The inventory on September 28 indicates that an inventory of $15,000 remains after the theft. During the past year, net sales were made at 50% above the cost of goods sold. Required: 1. Compute the inventory lost during the theft. Round the gross profit percentage to 3 decimal places. Beginning inventory 38,000 Purchases 19,000 $ Cost of goods available for sale 57,000 Cost of goods sold 25,500 x Ending inventory before theft 31,500 Ending inventory after theft 15,000 Inventory lost 16,500