=+Based on the following data, estimate the cost of ending merchandise inventory:

Sales (net) $4,800,000 Estimated gross profit rate 40%

Beginning merchandise inventory $ 250,000 Purchases (net) 2,900,000 __________ Merchandise available for sale $3,150,000 __________ __________ Based on the following data, estimate the cost of ending merchandise inventory:

Sales (net) $1,500,000 Estimated gross profit rate 38%

Beginning merchandise inventory $ 80,000 Purchases (net) 948,000 __________ Merchandise available for sale $1,028,000 __________ __________