November December Cost of goods purchased $531,000 $ 606,000 Inventory, beginning-of-month 138,000 181,650 Inventory, end-of-month 181,650 2 Sales revenue 855,000 1,000,000 Crane's ending inventory at December 31 was destroyed in a fire. (a) Compute the gross profit rate for November Gross profit rate 96 Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire. Estimated cost of ending inventory e Textbook and Media Save for Later Attempts: 0 of 5 used Submit