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A fire destroys all of the merchandise of Oriole Company on February 10, 2017. Presented below is information compiled up to the date of the

A fire destroys all of the merchandise of Oriole Company on February 10, 2017. Presented below is information compiled up to the date of the fire.

Inventory, January 1, 2017 $416,500
Sales revenue to February 10, 2017 1,877,700
Purchases to February 10, 2017 1,137,310
Freight-in to February 10, 2017 56,800
Rate of gross profit on selling price 45%

What is the approximate inventory on February 10, 2017?

Inventory at February 10, 2017 $

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