Use the following information to estimate the third quarter ending inventory under the gross profit method. This company's gross profit ratio is 20%. Third quarter beginning inventory: $54,000
Net sales for third quarter: $85,000
Net purchases for third quarter: $21,000
A)$101,000
B)$58,000
C)$35,000
D)$7,000
E)$14,000

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The Answer of Use the following information to estimate the third quarter ending inventory under the gross profit method. This company's gross profit ratio is 20%. Third quarter beginning inventory: $54,000
Net sales for third quarter: $85,000
Net purchases for third quarter: $21,000
A)$101,000
B)$58,000
C)$35,000
D)$7,000
E)$14,000

Use the Following Information to Estimate the Third Quarter Ending