Question 3 of 4 > 0/3 Niew Policies Show Attempt History Current Attempt in Progress The inventory of Oriole Company was destroyed by fire on March 1 From an examination of the accounting records, the following data for the first 2 months of the year are obtained Sales Revenue $51500. Sales Returns and Allowances $1.500, Purchases $32,000. Freieht- $1.500, and Purchase Returns and Allowances $1.600 Determine the mendhandise lost by fire assuming Your answer is incorrect Abeginning inventory of $20,000 and a gross profit rate of 4586 on net sales Estimated cost of merchandise lost e Textbook and Media Your answer is incorrect beginning inventory of 586,500 and a gross proftrate 305 on net sales Estimated cost of merchandise lost S e Textbook and Media Type here to search