Miller Company needs an estimate of its ending inventory balance.

Miller Company needs an estimate of its ending inventory balance. The following information is availableRetail$180,000$62,000135,000gross margin percentages 30%Given this information, whenusing the gorss margin estimation method, ending inventory is approximately A) 1,000b) 9,000C) 19,000d) 11,650Please explain why each answer was worng and why the correct one was right

ParticularsBeginning InventoryPurchaseGross Profit Trading AccountAmountParticulars$35,000 Sales$135,000 Closing Inventory$54,000$224,000 Amount$180,000$44,000$224,000