CALCULATOR PRINTER VERSION 4 BACK NI Exercise 6-19 a b (Part Level Submission) Sandhill Company reported the following information for November and December 2020. November December Cost of goods purchased $536,000 $ 603,000 Inventory, beginning-of-month 138,000 141,420 Inventory, end of month 141,420 ???? Sales revenue 859,000 1,000,000 Sandhill's ending inventory at December 31 was destroyed in a fire (a) Your answer is correct. Compute the gross profit rate for November. (Round answer to 0 decimal places, e.g. 15%.) Gross profit rate 38% (b) Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire (Round answer to o decimal places, c.g. 1,250.) Estimated cost of ending inventory