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The August 1 inventory of Hawkins Company had a cost of $80,000 and a retal value of $108,000. During August, merchandise was purchased for $95,000 and marked to sell for $142,000. August sales totaled $126,000. Required: 1. Compute the retail value of the ending inventory as of August 31 . 2. Compute the approximate cost of the ending inventory. 3. Compute the cost of goods sold during August. Analyze: What is the amount of estimated gross profit on sales for the month ending August 31? Answer is not complete. Complete this question by entering your answers in the tabs below. Compute the retail value of the ending inventory as of August 31 . The August 1 inventory of Hawkins Company had a cost of $80,000 and a retail value of $108,000. During August, merchandise was purchased for $95,000 and marked to sell for $142,000. August sales totaled $126,000 Required: 1. Compute the retall value of the ending inventory as of August 31. 2. Compute the approximate cost of the ending inventory. 3. Compute the cost of goods sold during August. Analyze: What is the amount of estimated gross profit on sales for the month ending August 31? Answer is not complete. Complete this question by entering your answers in the tabs below. Compute the approximate cost of the ending inventory. (Round your intermediate calculations to 2 decimal places.) The August 1 inventory of Hawkins Company had a cost of $80,000 and a retail value of $108,000. During August, merchandise was purchased for $95,000 and marked to sell for $142,000. August sales totaled $126,000. Required: 1. Compute the retail value of the ending inventory as of August 31 2. Compute the approximate cost of the ending inventory: 3. Compute the cost of goods sold during August. Analyze: What is the amount of estimated gross profit on sales for the month ending August 31 ? Answer is not complete. Complete this question by entering your answers in the tabs below. Compute the cost of goods sold during August. (Round your intermediate calculations to 2 decimal places.) The August 1 inventory of Hawkins Company had a cost of $80.000 and a retall value of $108,000. During August, merchandise was purchased for $95,000 and marked to sell for $142,000. August sales totaled $126,000. Required: 1. Compute the retail value of the ending inventory as of August 31. 2. Compute the approximate cost of the ending inventory. 3. Compute the cost of goods sold during August. Analyze: What is the amount of estimated gross profit on sales for the month ending August 31? Answer is not complete. Complete this question by entering your answers in the tabs below. What is the amount of estimated gross profit on sales for the month ending August a1? \{Round your intermediate calculations to 2 dedimal places.)