retailer has a standard mark-up of 150% on cost. For the month of June, the company recorded sales of $300,000 and purchases of $225,000. Inventory at the beginning of June yas estimated to be $170,000. Requirement Using the gross margin method, estimate the cost of goods sold for the month of June and the cost of inventory at the end of June. Begin by computing the cost of goods sold for the month of June