Motown Corporation has the following information available for period ending June 30, 20XX. Under the gross profit method the estimate of ending inventory is: Beginning inventory at historical cost = $794,493 Purchases at historical cost = $820,777 Net Sales as selling price = $2,097,583 Gross Profit % on Net Sales = 34% Gross Profit equals? Cost of Goods Sold equals? Ending Inventory equals? An inventory estimation technique such as the gross profit method may be used in the following circumstances When it is impractical to take a physical inventory O When it is impossible to take a physical inventory For interim reporting purposes O All of the above