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 $40\%.$ The following information for the year's first quarter is available from its records: January $1$ beginning inventory Purchases Purchase returns Transportation in $ $265,260910,20012,3506,2001,121,1509,100$ Sales Sales returns 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