Using the information provided from the general ledger, calculate the estimated closing inventory using the gross profit method. From examination of prior years' financial statements, you know that the gross profit margin is $25\%.$

Do not enter dollar signs, negative signs, or commas in the input boxes.Take me to the text

Using the information provided from the general ledger, calculate the estimated closing inventory using the gross profit method. From examination of prior years'

financial statements, you know that the gross profit margin is $25\%.$

Do not enter dollar signs, negative signs, or commas in the input boxes.