Time Left:2:17:46 Anmol Anu: Attempt 1 Question 8 (6 points) On March 1, 2019, Black and White Company had beginning inventory of $30,000. During the month the company had net sales of $75,000, purchases of 40,000 and purchase returns and allowances of $2,500. In the previous year, the company's gross profit on sales was 25%. Required: Calculate the estimated cost of the ending inventory on March 31, 2019 using the gross profit method. Label your work DO 20 - Format BIU