1/100 l pinned Pelp On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available: Beginning inventory, January + $4,800 Net sales: $77,000 Net purchases: $75.000 The company's gross margin ratio is 25%. Using the gross profit method, the estimated ending inventory value would be: Multiple Choice $19.750 $79.00 O $18.750 5 25 of 25 Ne