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: Required: 1. Calculate the estimated cost of each of the toppings lost in the fire. [The following information applies to the questions displayed below.] Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2024 , the records indicate the following data: Required: . Use the retail method to approximate cost of ending inventory valued under average cost method. lote: Enter your answer in thousands including 2 decimal places, i.e. 12,550 would be 12.55