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PLEASE SHOW ALL WORK !! Thank you :) Based on the following data, estimate the cost of ending merchandise inventory using the gross profit method.

PLEASE SHOW ALL WORK !! Thank you :)
Based on the following data, estimate the cost of ending merchandise inventory using the gross profit method. Sales (net) $725,000 Estimated gross profit rate 40% Beginning merchandise inventory $54,900 Purchases (net) 575,900 Merchandise available for sale $630,800

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