Tuptual liventory system compared with using weighted average in a periodic inventory Thug Lost Iormula, are there any benefits to using system? Explain 110 m2 OV515151 2002 on 2012 315w von Sabiro 06-14A Westor Company lost all of its inventory in a fire on December 28, 2017. The accounting records Dean showed the following gross profit data for November and December: using Blo2 caw ba 202 1200 Y 09 November December (to Dec. 28) and Sales $674.000 $965,390 mbroM 15 of Sales returns and allowances 14.000 26.600 osoba mobro Purchases szins 441,190 621,660 Purchase returns and allowances 17,550 22,575 Freight in d bluodecoupo 352 12,300 deado do Beginning inventory 34,050 100 39,405 Ending inventory 39,405 1803 vodnevni griba va al W (d) 6,860 Westor is fully insured for fire losses but must prepare a report for the insurance company. Instructions S TOD OLO Determine the amount of inventory lost by Westor as a result of the fire using the gross profit method. nodias TAKING IT FURTHER The insurance adjustor is concerned that this method of calculating the cost of the Inventory destroyed might not be accurate. What factors contribute to the accuracy of the ending inventory it when using the gross profit method? Vio