Check Wayward Company wants to prepare interim financial statements for the first quartet. The company wishes to avoid making a physical count of inventory. Wayward's gross profit rate averages 25%. The following information for the first quarter is available from its records eginning inventory, January 1 $440,260 Cost of goods purchased 1,079,050 Sales 1,391,150 Sales return Required: Use the gross profit method to estimate the company's first quarter ending inventory Beginning inventory, January 440,260 Nel cost of goods purchased 1.070.050 Cost of goods available for sale $ 1,519,310 Estimated cost of goods sold Estimated March 31 inventory $