Presented below is information related to T&T Corporation for the month of July. For monthly reporting purposes, T&T Corporation estimates inventory using the gross profit method. Beginning Inventory, July 1 $310,000 Freight-in Purchass (Gross) Purchase Discounts Purchase Returns $42,000 $964,000 $10,000 $21,500 Sales Revenue Sales Returns $1,560,000 $35,200 Required: Using the Gross Profit Method, calculate the following values for T&T Corporation. a. Calculate the estimated ending inventory at July 31, assuming gross profit is 25% of sales. type your answer.... b. Calculate the estimated ending inventory at July 31, assuming gross profit is 25% of cost. type your answer....