For the last several years Conway Corporation has operated with a gross profit rate of 40%.On January 1 of the current year,the company had on hand inventory with a cost of $600,000.Purchases of merchandise during January amounted to $150,000,and sales for the month were $360,000.Using the gross profit method,what is the estimated inventory at January 31?
A)$144,000
B)$216,000
C)$360,000
D)$534,000

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The Answer of For the last several years Conway Corporation has operated with a gross profit rate of 40%.On January 1 of the current year,the company had on hand inventory with a cost of $600,000.Purchases of merchandise during January amounted to $150,000,and sales for the month were $360,000.Using the gross profit method,what is the estimated inventory at January 31?
A)$144,000
B)$216,000
C)$360,000
D)$534,000

For the Last Several Years Conway Corporation Has Operated with a Gross