2. Not The One, Inc., needs to estimate the ending inventory for the fiscal quarter ending 3-31-2021, based on the following information: merchandise on hand 1-1-2021 had a cost of $ 25,000. and the quarter's purchases were $ 265,000. the purchase returns were $ 15,500. Sales ( 20% of which are gross profit) were $ 280,400. What is the ending inventory for 3-31-2021