Suzuki Company lost all of its inventory in a fire on December 26, 2015. The accounting records showed the following gross profit data for November and December. November December (to 12/26) Net sales $597,424 $690,900 Beginning inventory 31,200 35,800 Purchases 388,200 423,800 Purchase returns and allowances 13,000 14,500 Purchase discounts 8,200 9,200 Freight-in 8,600 9,600 Ending inventory 35,800 ? Suzuki is fully insured for fire losses but must prepare a report for the insurance company. Collapse question part (a) Correct answer. Compute the gross profit rate for November. (Round answer to 1 decimal place, e.g. 25.5%.) The gross profit rate for the month of November Entry field with correct answer 37.9 %. Part (b) Using the gross profit rate for November, determine the estimated cost of the inventory lost in the fire. (Round answer to 0 decimal places, e.g. 125.) Inventory lost in the fire in December