Classic Carpets began the year with inventory of $1.540,000 Inventory purchases for the year tolalled $3,350,000 Salos revenue for the year was $8,600,000 and the gross margin was 55 percent How much is Classic Carpets's estimated cost of ending inventory? Use the gross margin method C To estimate the ending inventory using the gross margin method, determine the formula to uso to solve for the estimated cost of ending inventory Then enter in the amounts to calculate ending inventory (Use parentheses or a minus sign when subtracting numbers.) Beginning inventory 1540000 Purchases 3350000 Cost of goods available 4890000 Ending inventory Inco