A firm is constructing a forecast balance sheet and wants to estimate future inventory using its inventory turnover ratio rather than its production schedule. If the inventory turnover ratio is 3.4, the cost of goods sold $1,309,000, and the beginning inventory $350,000, what is the ending inventory? (Assume that in determining the inventory turnover ratio an "average" figure is used in the denominator.)

A. $380,000

B. $420,000

C. $400,000

D. $360,000