4. After the auditors counted the inventory of the Cracker Jack Manufacturing Co. and r the accounting records something appeared to be amiss. Invento $ 295,000. eviewed ry that was counted totaled Inventory (1/16) Purchases (2016) Sales (2016) Sales returns (2016) Gross profit ratio $130,000 760,000 1,020,000 60,000 35% of sales Using the gross profit method, what did the auditors estimate as the amount of the inventory that should have been on hand at December 31, 2016