Big Box Store has operated with a 30% average gross profit ratio for a number of years. It had $106,000 in net sales during the second quarter of this year. If it began the quarter with $18,600 of inventory at cost and purchased $72,600 of inventory during the quarter, its estimated ending inventory by the gross profit method is: Muitiple Cholce 518,600 53400 $28,600 $22.260 $17000 A company's inventory records report the following in November of the current year: Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold? Multiple Choice 5216 $308 $294 $246