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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

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:

 

Fruit Toppings

Marshmallow Toppings

Chocolate Toppings

Inventory, January 1, 2021

$ 13,000

$ 6,300

$ 2,300

Net purchases through Nov. 17

150,000

29,000

11,300

Net sales through Nov. 17

165,000

48,000

19,300

Historical gross profit ratio

30%

35%

35%


Required:

Calculate the estimated cost of each of the toppings lost in the fire.

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