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2 Smith Distributors, Inc., supplies ice cream shops with various toppings for making sundaes On...

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Accounting

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2 Smith Distributors, Inc., supplies ice cream shops with various toppings for making sundaes On November 17, 2021, 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 25 paint Fruit Marshmallow Chocolate Toppings Toppings Toppings $27,000 $ 7,200 $ 3,700 185.000 43,000 12,00 235.000 62.000 20,700 153 30% Inventory, January 1, 2021 Net purchases through Nov. 17 Net sales through Nov 17 Historical gross profit ratio ebook ference Required: 1. Calculate the estimated cost of each of the toppings lost in the fire Toppings Fruit Marshmallow Chocolate Estimated cost of lost inventory 5 212.000 $ 32.100 $ 10,190

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