Question: 2. Not The One, Inc., needs to estimate the ending inventory for the fiscal quarter ending 3- 31-2021, based on the following information: merchandise on

2. Not The One, Inc., needs to estimate the ending inventory

2. Not The One, Inc., needs to estimate the ending inventory for the fiscal quarter ending 3- 31-2021, based on the following information: merchandise on hand 1-1-2021 had a cost of $ 25.000. and the quarter's purchases were $ 265,000. the purchase returns were $ 15,500. Sales ( 20% of which are gross profit) were $ 280,400. What is the ending inventory for 3-31-20212

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