49. Linda Company used gross profit method to estimate its ending inventory as of the end of March, 2015. The accounting records showed the following inventory, sales and purchases data for March: Beginning inventory $58,000 Net purchases $278,000 Net sales $300,000 What is the estimated cost of ending inventory on March 31 given a gross margin ratio of 30%?

Select one:

a. $123,000

b. $126,000

c. $129,000

d. $130,000