Monty Shoe Store uses the retail inventory method for its two departments, Women's Shoes and Men's Shoes. The following information for each department is obtained. (a1) Calculate cost-to retail ratio. The inventory of Marigold Corp. was destroyed by fire on March 1. From an examination of the accounting records, the following for the first 2 months of the year are obtained: Sales Revenue $55,000, Sales Returns and Allowances $1,100, Purchases $33,500, Freight-In $1,500, and Purchase Returns and Allowances $1,600. Determine the merchandise lost by fire, assuming: (a) A beginning inventory of $21,500 and a gross profit rate of 40% on net sales. Estimated cost of merchandise lost $ eTextbook and Media Attempts: 0 of 5 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above