Calculate estimated cost of ending inventory using the gross profit method: Gross profit on sales 35% Beginning inventory June 1, 2017 $ 22,000, net purchased $6,600 and net sales at retail for June $12,000

Calculate estimated cost of ending inventory using the gross profit method: \begin{tabular}{lc} Gross profit on sales & 35% \\ Beginning inventory June 1,2017 & $22,000 \\ Net purchases & $6,600 \\ Net sales at retail for June & $12,000 \end{tabular}