Nation Technology began the year with inventory of $283,000 and purchased $1,840,000 of goods during the year. Sales for the year are $2,600,000, and Nation Technology's gross profit percentage is 40% of sales. Compute Nation Technology's estimated cost of ending inventory by using the gross profit method. First calculate the cost of goods available. Then calculate the estimated cost of ending inventory Cost of goods available Estimated cost of goods sold Less Estimated cost of goods sold Estimated cost of ending inventory