35% (d) (e) During 19X3, Company P had sales of $90,000, a beginning inventory of $40,000, and net purchases of $60,000. If the gross profit percentage on selling price is 25%, find the ending inventory. 9.39 9.40 If, in Problem 9.39, the gross profit percentage is 25% on cost, find the ending inventory hondice for 1943