Page 2 of 2 Question 11 (2 points) Tennessee Ltd 's accounting records reported the following information Inventory, Jan 1, 2020 $ 300,000 Purchases during 2020 1,500,000 Sales during 2020 2,000,000 A physical inventory taken on December 31, 2020, resulted in an ending inventory of $350,000. Tennessee's gross profit on sales has remained constant at 30% in recent years. Tennessee suspects some inventory may have been taken by a new employee. At December 31, 2020, what is the estimated cost of the missing inventory? a) $400.000 k) b) $100,000 C) $75.000 d) 550 000