Sporting Pro wants to prepare interim financial statements for the first quarter of 2020 but would like to avoid making a physical count of inventory. During the last five years, the company's gross profit rate has averaged 27%. The following information for the year's first quarter is available from its records: S January 1 beginning inventory Purchases Purchase returns Transportation-in Sales Sales returns 260, 260 905,200 12, 250 6,100 1,111,150 9,050 Required: Use the gross profit method to prepare an estimate of the company's March 31 Inventory. SPORTING PRO Estimated Inventory March 31, 2020 Goods available for sale: $ 0 Goods available for sale Estimated cost of goods sold: Estimated cost of goods sold Estimated March 31, 2020 inventory