Using the gross profit method, find the estimated cost of goods sold for the following data and
net sales value of $600.00 to estimate inventory if gross profit on sales is 30 percent.
• January 1 inventory: 320 serving trays purchased at $1.50 per unit cost
• April 1 inventory: 300 serving trays purchased at $1.10 per unit cost
• July 1 inventory: 100 serving trays purchased at $2.00 per unit cost
O $1,010.00
O $420.00
O $200.00
O $330.00