Gabriel Company prepares monthly income statements. A physical inventory is taken only at year-end; hence, month-end inventories must be estimated. All sales are made on account. The rate of mark up on cost is 50%. The following information relates to the month of June:

Accounts receivable, June 1P102,000

Accounts receivable, June 30153,000

Collection of AR during June255,000

Inventory, June 1183,600

Purchases of inventory during June163,200

How much is the estimated cost of June 30, inventory?

Group of answer choices

a. 152,800

b. 346,800

c. 142,800

d. 102,000