eBook Calculator Gross Profit Method Based on the following data, estimate the cost of the ending inventory: Sales $4,300,000 42% Estimated gross profit rate Beginning inventory Purchases (net) $2,477,000 251,000 $2,728,000 Merchandise available for sale Estimated Cost of Ending Inventory Merchandise available for sale $2,728,000 Estimated cost of goods sold 4,300,000 Estimated ending inventory Feedback Check My Work Inventory available for sale - estimated cost of goods sold = estimated cost of inventory. Recall that the estimated cost of goods sold is calculated by subtracting the estimated gross profit from the sales