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The following data are for an entity's year ended December 31, 20x0: Beginning inventory $25,000 Net purchases 55,000 Net sales revenue 100,000 Normal gross margin

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The following data are for an entity's year ended December 31, 20x0: Beginning inventory $25,000 Net purchases 55,000 Net sales revenue 100,000 Normal gross margin rate 40% What is the estimate of ending inventory? Select one: O a. $20,000 O b. $80,000 O c. $40,000 O d. $60,000

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