Big Box Store has operated with a 30\% average gross profit ratio for a number of years. It had $116,000 in net sales during the second quarter of this year. If it began the quarter with $19,600 of inventory at cost and purchased $73,600 of inventory during the quarter, its estimated ending inventory by the gross profit method is: Multiple Choice $34,800. $31,800. $12,000. $19,600. $24,360. Big Box Store has operated with a 30\% average gross profit ratio for a number of years. It had $116,000 in net sales during the second quarter of this year. If it began the quarter with $19,600 of inventory at cost and purchased $73,600 of inventory during the quarter, its estimated ending inventory by the gross profit method is: Multiple Choice $34,800. $31,800. $12,000. $19,600. $24,360