Estimating Inventory Using Gross Profit Method Assume that we are auditing the records of Forde Corporation. A plyaical irventory has been taken by the company under our observation. The records of the company show the following actount data. The gross profit last year was 25 w of net sales we anticipate that it will be 25 s for the current year under audit Required Eitimate the cost of ending irventocy using the gross profit method - Note: Do not use negative signs with your answers