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: $4,600 Net sales: $75,000 Net purchases: $73,000 The company's gross margin ratio is 30%. Using the gross profit method, the estimated ending inventory value would be: Multiple Choice o $21,900, o O s22,500. o O s77 . o 525300. o 352,500