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Smith Distributors, Inc., supplies ice cream shops with various toppings for making sundaes. On November 17, 2021, a fire resulted in the loss of all

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Smith Distributors, Inc., supplies ice cream shops with various toppings for making sundaes. On November 17, 2021, a fire resulted in the loss of all of the toppings stored in one section of the warehouse. The company must provide its insurance company with an estimate of the amount of inventory lost. The following information is available from the company's accounting records Inventory, January 1, 2021 Net purchases through Nov. 17 Net sales through Nov. 17 Historical gross profit ratio Pruit Toppinge $ 11,000 105,000 155,000 35 Marshmallow Toppings $ 6,100 27,000 46,000 350 Chocolate Topping $ 2,100 11,100 19,100 400 Required: 1. Calculate the estimated cost of each of the toppings lost in the fire. Estimated cost of lost inventory Toppings Fruit Marshmallow Chocolate

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