CengageNOWV2 | Online teac x Cchegg.com/homework-help/ x chegg.com/homework-help/c x M Inbox (7,734)-viridi ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false eBook Retail Inventory Method Print Item The following information is provided by Raynette's Pharmacy for the last quarter of its fiscal year ending on March 31, 20-- Cost Retail Inventory, start of period, January 1, 20-- $32,600 $51,700 Net purchases during the period 166,854 270,000 Net sales for the period 259,900 Required: 1. Estimate the ending inventory as of March 31 using the retail inventory method. 2. Estimate the cost of goods sold for the time period January 1 through March 31 using the retail inventory method.