B D G H A E 5 On January 1, The Parts Store had a $570,000 inventory at cost. During the first quarter of the year, it 6 purchased $2,500,000 of merchandise, returned $19,100. and paid freight charges on purchased 7 merchandise totaling $33,600. During the past several years, the store's gross profit on sales has 8 averaged 30%. Under the assumption the store had $1,920,000 af sales during the first quarter of the year, 9 use the gross profit method to estimate its inventory at the end of the first quarter 10 11 12 13 Part 2 14 15 During 2020, Harmony Co. sold S620,000 of merchandise at marked retail price. At the end of 2020, 16 the following information was available from its records: 17 18 19 Beginning inventory 20 Net purchases At Cost At Retail S 127,600 S 256,800 $ 231,240 S 393,600 21 22 23 Use the retail method to estimate Harmony's 2020 ending inventory at cost. Round all calculations to 24 two decimal places