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What is the estimated inventory at the end of march

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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 1st

159,000

 

 

Purchases

400,000

375,000

400,000

Sales Revenue

300,000

520,000

805,000

Reference no: EM131591830

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