Problem 6-10A Bao Company lost all of its inventory in a fire on December 26, 2017. The accounting records showed the following gross profit data for November and December. December November (to 12/26) 600,163 $697,200 1,200 36,900 386,200 424,400 3,300 14,900 9,200 9,700 Net sales Beginning inventory Purchases Purchase returns and allowances Purchase discounts Freight-in Ending inwentory 8,400 8,500 6,900 Bao is fully insured for fire losses but must prepare a report for the insurance company Compute te gross profit rate for November. (Round answer to 1 decimal place, eg, 25 S%) Gross profit rate Using the gross profit rate for November, determine the estimated cost of the inventory lost in the fire. (Round answer to 0 decimal places, e.g. 125) stimated inventory lost in fire