Sporting Pro wants to prepare interim financial statements for the first quarter of 2020 but would like to avoid making a physical cour of inventory. During the last five years, the company's gross profit rate has averaged 32%. The following information for the year's firs quarter is available from its records: January 1 beginning inventory Purchases Purchase returns Transportation-in Sales Sales returns $ 285,260 930,200 12,750 6,600 1,161,150 9,300 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