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Johnson and Guidry Inc. is using the gross profit method to estimate ending inventory. Below...

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Accounting

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Johnson and Guidry Inc. is using the gross profit method to estimate ending inventory. Below is information for the month of September. Using the informaiton below, find the ending inventory at cost J\&G has a 33.33% markup on cost \begin{tabular}{|l|r|} \hline Inventory, May 1 & $210,000 \\ \hline Purchases (gross) & 840,000 \\ \hline Freight-in & 30,000 \\ \hline Sales & 1,070,000 \\ \hline Sales returns & 70,000 \\ \hline Purchase discounts & 20,000 \\ \hline \end{tabular} Mark-up on cost 33.33%

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