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TB MC Qu. 05-90 (Algo) Landis Company is preparing its financial... Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company's records revealed sales of $85,000; beginning inventory of $8,500 and purchases of $59,500. What is the estimated amount of ending inventory at the end of the period? Multiple Choice $51,000 $17,000 $34.000 Multiple Choice $51,000 $17,000 $34,000 $27,200