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On January 1, 2017, the merchandise inventory of Sandhill, Inc. was $2000000. During 2017 Sandhill purchased $3992000 of merchandise and recorded sales of $4800000. The

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On January 1, 2017, the merchandise inventory of Sandhill, Inc. was $2000000. During 2017 Sandhill purchased $3992000 of merchandise and recorded sales of $4800000. The gross profit rate on these sales was 20%. What is the merchandise inventory of Sandhill at December 31, 2017? O $960000. O $3840000. O $808000. O $2152000

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