El Company began July with inventory of $212,000. The business made set purchases of 1635 000 and had not sees of $920,000 beta is bedroved the company's ventory For the past years, Concent' might in vre h 36 percent Required 1. Estimate the cost of the inventory destroyed by the fo 2. Identify anther seasontowners and managers use the gross margin method to estimate mentory on a regular b Requirement 1. Estmate the cost of the ventory destroyed by the fre Cost of goods available for sa Estimated cost of goods sold Less Estmated ending inventory Requirement 2. Idently another reason owners and managers use the gross margin method to esmane mventory on a megb Another reason owners and managers une the gross marge method to estimato inventory cosil on a regular taus s