At the end of the second quarter of 20X1, Malta Corporation assembled the following information:

1.	The first quarter resulted in a $102,000 loss before taxes. During the second quarter, sales were $1,212,000; purchases were $662,000; and operating expenses were $332,000.
2.	Cost of goods sold is determined using the FIFO method. The inventory at the end of the first quarter was reduced by $16,000 to a lower-of-cost-or-market figure of $90,000. During the second quarter, replacement costs recovered, and by the end of the period, market value exceeded the ending inventory cost by $13,250.
3.	The ending inventory is estimated using the gross profit method. The estimated gross profit rate is 46 percent.
4.	At the end of the first quarter, the effective annual tax rate was estimated at 45 percent. At the end of the second quarter, expected annual income is $640,000. An investment tax credit of $15,000 and dividends received deduction of $82,500 are expected for the year. The combined state and federal tax rate is 40 percent.
5.	The tax benefits from operating losses are assured beyond a reasonable doubt. Prior-years income totaling $50,000 is available for operating loss carrybacks.

I am trying to create an income statement from the above information, but I can't figure out Ending Inventory so I can get COGS