At may 31, Cheyenne Corp. has ner sales of $385,000 and cost of goods available for sale of $283,000. Compute the estimated cost of the ending jnventory, assuming the gross profit rate is 36%.

At May 31, Cheyenne Corp. has net sales of $385,000 and cost of goods available for sale of $283,000. Compute the estimated cost of the ending inventory, assuming the gross profit rate is 36%