You have the following information from Gamma Corporation:

Beginning inventory	$45,000
Inventory purchases of the year	360,000
Inventory purchase returns	16,000
Transportation-in	8,000
Transportation-out	7,000
Sales of the year	470,000

The Gross Profit percentage is determined to be 23% of Sales. Based on the gross profit percentage method, estimated ending inventory is:

Select one:

a. $28,100

b. $35,100

c. $42,100

d. $27,100