4. For the period from 2016 through 2016, the Charlie Company had net sales of $500,000 and a gross profit of $200,000 During the three months ended March 31, 2018, the company made purchases of $19,500 and recorded sales of $47,500. The inventory value at the beginning of the year was 15,500. What is the estimated cost of Charlie's inventory on March 31, 2018, using the gross profit method? (6 pts with computations, 3 pts without) Prepare your calculations below