QUESTION 6 Incorrect Marked out of 1.00 Flag question Edit question The following information appears in Petty Company's records for the year ended December 31 325,000 Inventory, January 1 Purchases Purchase returns Freight in Sales Sales discounts Sales returns 1,150,000 40,000 30,000 1,700,000 10,000 15,000 On December 31, a physical inventory revealed that the ending inventory was only $210,000. Petty's gross profit on net sales has remained constant at 30 percent in recent years. Petty suspects that some inventory may have been stolen by one of the company's employees. At December 31, what is the estimated cost of the missing inventory? Select one a. $292,500 x b. $210,000 c. $82,500 d. $75,000 e. $52,500