v Aav AA board 5 Font Paragraph 5 Styles Voice Editor 11) Between January 1 and April30, a company's sales amounted to $140,000 and its purchases amounted to $120,000. The January 1 inventory was $34,000. Using the gross margin method, what is a reliable estimate of the April 30 inventory if the prior period's gross margin has been: 70,000 (a) 40 percent based on cost? April ending inventory is s (b) 40 percent based on selling prices? April ending inventory is s Page 5 of 810 words DU D Focus English (United States ENG 1:24 PM 6/23/2020