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Exercise 6-19 a-b (Part Level Submission) Ivanhoe Company reported the following information for November and December 2020. November December Cost of goods purchased $540,000 $ 606,000 Inventory, beginning-of-month 139,000 153,240 Inventory, end-of-month 153,240 ???? Sales revenue 848,000 1,000,000 Ivanhoe's ending inventory at December 31 was destroyed in a fire. (a) Compute the gross profit rate for November. (Round answer to 0 decimal places, e.g. 15%.) Gross profit rate % Click if you would like to Show Work for this question: Open Show Work