***** Bonita Company prepares monthly financial statements and uses the gross profit method to estimate ending inventories. Historically, the company has had a 40% gross profit margin During June, net sales amounted to $49700; the beginning inventory on June I was $15000, and the cost of goods purchased during June amounted to $2400. The estimated cost of Bonita Company's inventory on June 30 is $9580. $29820 $9000 $19880 Save for later