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 $1$: $$5,000$

Net sales: $$79,000$

Net purchases: $$77,000$

The company's gross profit ratio is $20\%.$ Using the gross profit method, the estimated ending inventory value would be:

Multiple Choice

$$15,400.$

$$63,200.$

$$82,000.$

$$18,800.$

$$15,800.$