138. The following data were obtained from the records of Trend, Inc.: Current ratio (at year end) 1.5 to 1 Inventory turnover based on sales and ending inventory15 times Inventory turnover based on cost of goods sold and ending inventory 10.5 times Gross margin for 2002 P315,000 What was Trend, |nc.'s December 31, 2002 balance in the Inventory account? A. P138,000 C. P140000 5. P 70,000 D. P135,000