Multiple Choice 41,65025,95030,8505,9004,900

ply: Connect Homework [due Day 7] i Saved Help Save & Exit On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available: Beginning inventory, January 1: $4,900 Net sales: $49,000 Net purchases: $50,000 The company's gross margin ratio is 15% Using the gross profit method, the cost of goods sold would be