The inventory of Bramble Corp. 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 $53,500, Sales Returns and Allowances $1,500, Purchases $33,500, Freight-In $1,200, and Purchase Returns and Allowances $1,600. Determine the merchandise lost by fire, assuming: A beginning inventory of $23,000 and a gross profit rate of 40% on net sales. Estimated cost of merchandise lost $ eTextbook and Media A beginning inventory of $33,500 and a gross profit rate of 30% on net sales. Estimated cost of merchandise lost $