Royal Gorge Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly financial statements required by its bank. Inventory on hand at the end of October was $$59,100.$ The following information for the month of November was available from company records:

$\backslash$table$[[$Purchases$,$$$116,000$

Royal Gorge Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly financial statements required by its bank. Inventory on hand at the end of October was $$59,100.$ The following information for the month of November was available from company records:

$\backslash$table$[[$Purchases$,$$$116,000$