(Answered) Question - urban kicks a shoe retailer has historically

Accounting

Question - Urban Kicks, a shoe retailer, has historically maintained a profit margin of 30% of the selling price, but due to market pressures, had to drop that to 20% for the month of March. What is the estimated inventory at the end of March if they had $159,000 in inventory on January 1, given the following information?

	January	February	March
Inventory on the 1^st	159,000
Purchases	400,000	375,000	400,000
Sales Revenue	300,000	520,000	805,000

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