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Pharoah Company reported the following information for November and December 2022.
| | | November | | December |
| Cost of goods purchased | | $538,000 | | $ 604,000 |
| Inventory, beginning-of-month | | 123,000 | | 149,200 |
| Inventory, end-of-month | | 149,200 | | ? |
| Sales revenue | | 853,000 | | 1,000,000 |
Pharoahs ending inventory at December 31 was destroyed in a fire.
A) Compute the gross profit rate for November.
| Gross profit rate | | enter the gross profit rate in percentages | % |
B.) Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire.
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