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  1. business
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  3. decembernovember (to 12/26)net sales$600,000 $700,

DecemberNovember (to 12/26)Net sales$600,000 $700,000Beginning inventory32,00036,000Purchases389,000420,000Purchase returns and allowances13,30014,900Purchase discounts8,5009,500Freight-in8,8009,900Ending inventory36,000?P6-10A Compute gross profit rate...

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Accounting

DecemberNovember (to 12/26)Net sales$600,000 $700,000Beginning inventory32,00036,000Purchases389,000420,000Purchase returns and allowances13,30014,900Purchase discounts8,5009,500Freight-in8,8009,900Ending inventory36,000?P6-10A Compute gross profit rate and inventory loss using gross profit method Suzuki Company lost all of its inventory in a fire on December 26,2022. The accounting records showed thefollowing inventory-related data for November and December.Suzuki is fully insured for fire losses but must prepare a report for the insurance company. Instructions(a)(b)Compute the gross profit rate for November. Using the gross profit rate for November; determine the estimated cost of the inventorylost in the fire.NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?"
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