Waterway Company lost all of its inventory in a fire on December 26, 2022. The accounting records showed the following gross profit data for November and December. December (to 12/26) $710.000 November $610,000 32,000 384.000 13.100 Net sales Beginning inventory Purchases Purchase returns and allowances Purchase discounts Freight-in Ending inventory 37.000 427,000 15.000 8.500 9.500 8.600 10,400 37.000 ? Waterway is fully insured for fire losses but must prepare a report for the insurance company. Compute the gross profit rate for November. Gross profit rate % eTextbook and Media Using the gross profit rate for November, determine the estimated cost of the inventory lost in the fire. (Round answer to O decimal places, eg. 125.) Estimated inventory lost in fire $