Assume that we are auditing the records of Forde Corporation. A physical inventory has been taken by the company under our observation. The records of the company show the following account data. The gross prot last year was 25% of net sales; we anticipate that it will be 25% for the current year under audit.

Sales, gross	$1,134,000
Sales returns (returned to inventory)	18,000
Purchases, gross	558,000
Beginning inventory	360,000
Freight-in	25,200
Purchase returns and allowances	7,200

Required Estimate the cost of ending inventory using the gross profit method. Note: Do not use negative signs with your answers.

Cost of goods available for sale	Answer
Cost of goods sold, estimated	Answer
Ending Inventory, estimated	Answer