Toyland wishes to produce quarterly financial statements, but it takes a physical count of Inventory only at year-end. The following historical data were taken from the Year 1 and Year 2 accounting records: Year Year Net sales Cost of goods sold $15e,88 19e,808 89,288 76,888 At the end of the first quarter of Year 3, Toyland's ledger had the followIng account balances: Sales Purchases Beginning inventory 1/1/Year 3 Ending inventory 3/31/Year 3 $218,806e 98,888 32,180 16,888 Based on purchases and sales, the Toyland accountant thinks Inventory is low Requlrec Using the Information provided, estlmate the following for the first quarter of Year 3 a. Cost of goods sold. (Use the average cost of goods sold percentage.) (Round your Intermediate percentage values to 1 declmal place and final answer to nearest whole doller amount.) b. Ending Inventory at March 31 based on the historical cost of goods sold percentage c. Inventory shortage a. Cost of goods sold b. Estimated ending inventory c. Estimated inventory shortage