4 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 1: $4,200 Net sales: $42,000 Net purchases. $43,000 10 points The company's gross margin ratio is 15% Using the gross profit method, the cost of goods sold would be Book Multiple Choice Print O $5,200 O $22 100 O $35,700 O $26,300. O $4,200