wweyyanut,rmancRaT ACCOuNng, oe Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT Exercise 6-20 The inventory of Larkspur, Inc. 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 $51,000, Sales Returns and Allowances $1,100, Purchases $34,000, Freight-In $1,400, and Purchase Returns and Allowances $1,700. Determine the merchandise lost by fire, assuming: A beginning inventory of $22,000 and a gross profit rate of 45% on net sales. Estimated cost of merchandise lost $ A beginning inventory of $31,500 and a gross profit rate of 30 % on net sales. Estimated cost of merchandise lost Open Show Work Click if you would like to Show Work for this question: SAVE FOR LATER Question Attempts: 0 of 3 used SUBMIT ANSWER 524 PM 6/2/2019 DELL