Chapter 06-Probiem ll (P5-10) value: 100.00 points Wayward Company wants to prepare interim financial statements for the first quarter. information for the first quarter is available from its records. 470.260 January 1 beginning inventory Cost of goods purchased Net sales 1,109,050 1,350,000 Required: Use the gross profit method to estimate the company's first-quarter ending inventory. eginning inven Cost of goods purchased S 470,260 1,109,050 $ 1,579,310 + Estimated cost of goods sold Estimated March 31 inventory References eBook & Resources Worksheet Difficulty 2 Medium Check my work