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Exercise 6-10 * 5 Exercise 6-12 X 5 Question 5 - Chapter 6 Practice X + X C 2% ezto.mheducation.com/ext/map/index.html?_con=conexternal_browser=0launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252Fstudent%252Fclass%2... * Chapter 6 Practice i Saved Help Save Exit Submit Check my work 5 Exercise 6-12 Estimating ending inventory-gross profit method LO6 6 On January 1, The Parts Store had a $370,000 inventory at cost. During the first quarter of the year, it purchased $1,510,000 of points merchandise, returned $19,100, and paid freight charges on purchased merchandise totalling $33,600. During the past several years, the store's gross profit on sales has averaged 30%. Under the assumption the store had $1,920,000 of sales during the first quarter of the year, use the gross profit method to estimate its inventory at the end of the first quarter. eBook Print Ending inventory References Mc Graw Hill O Type here to search P A D () ENG 06:39 p T.TO/-9/10