Anchor Company's accounting records indicated the following information: Inventory, 1/1/20 $1,860,000 Purchases during 2020 $9,600,000 Sales during 2020 $10,060,000 Anchor's gross profit on sales has remained constant at 20% in recent years. Anchor suspects some inventory may have been taken by a new employee. At December 31, 2020, what is the estimated cost of missing inventory