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You are auditing Bertrand Company and are testing ending inventory for reasonableness. The unaudited inventory balance is $58.250. If Bertrand Company's gross margin ratio is 30%, use the information below to compute ending inventory. Beginning inventory Net sales Purchases Freight-in Purchases returns 56.800 $340,000 219,200 10,000 8.300 Net Sales Cost of goods sold: Beginning inventory Plus: net purchases Goods available Less: Ending inventory Cost of goods sold Gross profit Given the results of the gross margin method, does the reported inventory balance seem reasonable