Southern Distributors, Incorporated, supplies ice cream shops with various toppings for making sundaes. On November 17, 2024, 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, 2024 Net purchases through November 17 Net sales through November 17 Historical gross profit ratio Required: Fruit Toppings $ 24,000 170,000 Marshmallow Toppings Chocolate Toppings $ 7,400 40,000 $ 3,400 12,400 220,000 59,000 20% 30% 20,400 30% 1. Calculate the estimated cost of each of the toppings lost in the fire. Toppings Fruit Marshmallow Chocolate Estimated cost of lost inventory