The inventory of Bramble Company was destroyed by fire on March 1. From an examination of the accounting records, the following data for the first 2 months of the year are obtained Sales Revenue $50,000, Sales Returns and Allowances $1.000, Purchases $40,000, Freight-In $1.300, and Purchase Returns and Allowances $1,500. Determine the merchandise lost by fire, assuming (a) Your answer is incorrect. A beginning inventory of $24,000 and a gross profit rate of 31% on net sales. Estimated cost of merchandise lost $