Lucent Technology maintains a gross margin of 40% on all of its merchandise. In April the company had a beginning inventory of $518,700, net purchases of $316,400, and net sales of $754,400. Use the gross profit method to estimate the cost of ending inventory as of March 31. O $231,580 $301,760 O $307,020 $382,460 X Submit Answer

the gross pxofit methes to estimate the cost of ending irmentory as of Marth 31 . \begin{tabular}{r} \hline 5231,500 \\ 5901,760 \\ 5307,020 \\ 5312,460 \\ 6 \end{tabular}