On March 31 a company needed to estimate its ending Inventory to prepare its first quarter financial statements. The following Information is avallable: Beginning Inventory, January 1: $6,000 Net sales: $89,000 Net purchases: $87,000 The companys gross margin ratio is 25%. Using the gross profit method, the estimated ending inventory value would be Multiple Choice $66750 ? Pre 9 of 25 Ell Next > 3 8 0