Nelson Corp. incurred a total loss of its inventory on July 1, 2023. The following information is available for 2023: Inventory 1/1/23 Net sales (1/1/23 - 6/30/23) Net purchases (1/1/23 6/30/23) $ 200,000 9,000,000 7,000,000 Additional Information: The company's gross profit as a percentage of sales is consistent from year to year. On its income statement in the prior year, the company noted that its net sales amounted to $10,000,000, and its cost of goods sold amounted to $3,000,000. Part A: Based on last year's data, what is the company's expected gross profit percentage as a percent of sales for 2023? (4 pts) Answer: % Part B: What is the estimated cost of the lost inventory? (7 pts) Answer: $