AC114 Unit 10 Lab Learning Activity Question 2 of 2 View Policies Current Attempt in Progress Sunland Company reported the following information for November and December 2022. Cost of goods purchased Inventory, beginning-of-month Inventory, end-of-month Sales revenue (a) November $531,000 Gross profit rate 128,000 164,840 852,000 Compute the gross profit rate for November. December $ 605,000 Sunland's ending inventory at December 31 was destroyed in a fire. 164,840 ? 1,000,000 %

Current Attempt in Progress Sunland Company reported the following information for November and December 2022. Sunland's ending inventory at December 31 was destroyed in a fire. (a) Compute the gross profit rate for November. Compute the gross profit rate for November. Gross profit rate \ eTextbook and Media Attempts: 0 (b). Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire. Estimated cost of ending inventory