Question 3: Presented below is information related to Zetoro company for the current year. Beginning inventory $600,000 Purchases $1,500,000 Total goods available for sale $2,100,000 Sales $2,300,000 Required: Compute the ending inventory, assuming that: a) gross profit is 40% of sales b) gross profit is 60% of cost c) gross profit is 35% of sales d) gross profit is 25% of cost Question 4: Presented below is information related to ABC company as at 31/12/208. Cost 200,000 1,425,000 Beginning inventory Purchases Markups Markup cancellations Markdowns Markdown cancellations Sales Retail 280,000 2,140,000 95,000 15,000 35,000 5,000 2,250,000 Required: Compute the ending inventory at cost as of 31/12/2018 using: a) Conventional retail method b) Cost method