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dokumen.pub_fundamental- x | Chat Thread * 5 problem 6-2A.docx X 5 Question 1 - Chapter 6 Assig X New Tab X + X 9% ezto.mheducation.com/ext/map/index.html?_con=conexternal_browser=0launchUrl=https%2530%252F%252Fnewconnect.mheducation.com%252Fstudent%252Fclass%2... L . . . Chapter 6 Assignment i Saved Help Save Exit Submit Exercise 6-19 Estimating ending inventory-gross profit method LO6 On January 1, JKR Shop had $650,000 of beginning inventory at cost. In the first quarter of the year, it purchased $1,790,000 of merchandise, returned $25,100, and paid freight charges of $39,600 on purchased merchandise, terms FOB shipping point. The company's gross profit averages 30%, and the store had $2,200,000 of net sales (at retail) in the first quarter of the year. 5 points Use the gross profit method to estimate its cost of inventory at the end of the first quarter. Skipped Beginning inventory, January 1 $ 650,000 Net cost of goods purchased References Estimated March 31 inventory Mc Graw Hill O Type here to search M P of A G () ENG 09:49 UP T-TO/-9/TT