Sheridan Company prepares monthly financial statements and uses the gross profit method to estimate ending inventories. Historically, the company has had a 30% gross profit margin. During June, net sales amounted to $49600; the beginning inventory on June 1 was $15900; and the cost of goods purchased during June amounted to $24400. The estimated cost of Sheridan Company's inventory on June 30 is O $5580. O $34720. O $11130. O $14880