On a separate piece of paper use the information below to complete the calculation to estimate the Company's ending inventory at March 31, 2020 using the Gross Profit Method. Use you answers to match the correct answer to the questions below. $340,000 Current year's results to date: January 1, 2020 beginning inventory Purchases Purchase discounts Transport out Sales Sales discounts $390,000 $5,400 $60,000 $280,500 $23,600 Previous year's results (2019) Net Sales Gross Profit $1,000,000 $250,000 What was last year's gross profit % (2019)? Choose... - What is the net sales for January 1 to March 31, 2020? Choose... . What is the goods available for sale for the period a s Previous year's results (2019) Net Sales Gross Profit $1,000,000 $250,000 What was last year's gross profit % (2019)? Choose... What is the net sales for January 1 to March 31, 2020? Choose... - What is the goods available for sale for the period January 1 to March 31, 2020? Choose... - Choose... - What is the estimated COGS for the period January 1 - March 31, 2020 What is the estimated ending inventory at March 31, 2020? Choose... - Next page urse tion Jump to... Choose... $196,900 4% $256,900 Previous year's results (2019) Net Sales Gross Profit $1,000,000 $250,000 $784,600 25% $570,460 What was last year's gross profit % (2019)? $280,500 What is the net sales for January 1 to March 31, 2020? $531,925 40% What is the goods available for sale for the period January 1 to March 31, 2020? $192,675 $724,600 What is the estimated COGS for the period January 1 - March 31, 2020 $154,140 What is the estimated ending inventory at March 31, 2020? Choose... Next page