Wayward Company wants to prepare interim financial statements for the first quarter. The company wishes to avoid making a physical count of inventory. Wayward's gross profit rate averages 30%. The following information for the first quarter is available from its records.

"January 1 beggining inventory - $490,260

cost of goods purchased - $1,129,050

Net sales - $1,369,800 "

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my answers so far ::

Beggining inventory = $490,260

Cost of goods purchaes = $1,129,050

Cost of goods available for sale = $1,619,310

Estimated cost of goods sold = ????

esitmated March 31 inventory = ????