(L04) (Gross Profit Method) Presented below is information related to Aaron Rodgers Corporation for the current year.

Beginning inventory $ 600,000 Purchases 1,500,000 Total goods available for sale $2,100,000 Sales revenue 2,500,000 Instructions Compute the ending inventory, assuming that

(a) gross profit is 45% of sales,

(b) gross profit is 60% of cost,

(c) gross profit is 35%

of sales, and

(d) gross profit is 25% of cost.