Widget Tek Inc.$\text{'}$s original accountant accepted a position with another firm and left in early March.

You have been asked to review the subsidiary inventory ledger record for Widget Tek Inc.$\text{'}$s main

product for March.

Study the inventory record for March and answer the questions that follow.

Assuming that the product sells for $$150$ and that $70\%$ of sales are on account, determine the

gross profit from sales for March. $

Making the same assumptions as in $(1),$ determine the ending inventory cost for March. $