YouTube soundcloud ebay blackboard Sign in to Outlook M McGraw-Hill Connect stats textbook pol Palm Beach Sta - Chapter 6 Homework (Spring 2021) Question 4 of 6 < > Your answer is incorrect. The inventory of Columbo Company was destroyed by fire on April 1. From an examination of the accounting records, the following data for the first three months of the year are obtained: Sales Revenue Sales Returns and Allowances $185,000 5,000 Purchases 110,000 Freight-In 3,500 Purchase Returns and Allowances 4,000 Determine the merchandise lost by fire, assuming a beginning inventory of $50,000 and a gross profit rate of 40% on net sales. Estimated cost of merchandise lost $ Type here to search II