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Booksh... PaperCut MF : Web... WebCOMTM 2.0 $ Hugh Pforsich's Ho.. www.mheducation.. P Course Home ect Homework Saved Help Save & Exit Check my Smith Distributors, Inc., supplies ice cream shops with various toppings for making sundaes. On November 17, 2018, a fire resulted in the loss of all of the toppings stored in one section of the warehouse. The company must provide its insurance company with an estimate of the amount of inventory lost. The following information is available from the company's accounting records: Fruit Marshmallow Chocolate Inventory, January 1, 2018 Toppings Toppings Toppings Net purchases through Nov. 17 $ 16, 000 $ 6, 600 $ 2, 600 130 , 000 32, 000 11, 600 Net sales through Nov. 17 180 , 000 51, 000 19, 600 Historical gross profit ratio 25% 35% 35% Required: 1. Calculate the estimated cost of each of the toppings lost in the fire. Estimated cost of Toppings lost inventory Fruit Marshmallow Chocolate 1:07 O 4/28/ search O 3