Taylor Company uses the periodic inventory method and wants to estimate the amount of ending inventory in order to prepare quarterly financial statements. Sales for the quarter were $26,000. Based on historical records, the company earns an average gross margin of 25 percent on sales. Beginning inventory for the quarter was $7,000 and purchases were $14,200. The amount of ending inventory was" Answer Question 5 answers A. 21200 B. 1700 C. 6500 D. 19500