Take me to the text Using the information provided from the general ledger, calculate the estimated closing inventory using the gross profit method. From examination of prior years' financial statements, you know that the gross profit margin is 25%. Do not enter dollar signs, negative signs, or commas in the input boxes. Sales Cost of Goods Sold Opening Inventory Purchases Cost of Goods Available for Sale $ Closing Inventory Total Cost of Goods Sold Gross Profit Check $220,000 $136,000 $124,000