use this ethod for this. Question $4(2\mathrm{.}25$ points$)$

Question $4$ options:

Beginning inventory $$125,000$

Net purchases $375,000$

Sales $490,000$

Inventory salvaged from flood $40,000$

MARKUP ON COST $25\%$

Use the gross profit method to estimate the ending inventory.

Q#$1-$ What is the gross profit ratio, rounded to $0$ decimal places?

Q#$2-$ WHAT IS THE ESTIMATED ENDING INVENTORY?

Use rounded gross profit ratio from Q$1$ to estimate inventory.

$($round to $0$ decimals, i$.$e$.1,000,$ do not use $$)$

Q#$3-$The net loss on inventory is $($round to $0$ decimal places$)$ do not use $$.$