The accountant for Buy & Large, Inc. needs to estimate the ending inventory balance so that he can prepare quarterly financial statements. The accountant has gathered the following information: Beginning inventory $10,000 Sales $100,000 Purchases $80,000 Gross profit percentage 40% Use the gross profit method to estimate the cost of the ending inventory. A) $42,000 B) $40,000 OC) $20,000 D) $30,000