Question 9 Use the following data to estimate the Inventory at the end of the month DATA Sales for the month 1,000,000 Markup on Cost 30% Inventory, Beginning of Month 400,000 Purchases 800,000 Purchase returns 30.000 Round all % to decimals SELECT ALL CORRECT ANSWERS, INCORRECT ANSWERS ARE PENALIZED! The gross profit rate (rounded to decimals) equals 30%. Estimated ending inventory at the end of the month equals $ 770,000 The gross profit rate (rounded to decimals) equals 23%. Estimated ending inventory at the end of the month equals $470,000. Estimated ending inventory at the end of the month equals $700,000. The gross profit rate (rounded to decimals) equals 70%. The gross profit rate (rounded to decimals) equals 77%. Estimated ending inventory at the end of the month equals $400,000, Moving to another question will save this response