Average gross profit rate: $40\%$ of sales

Inventory on January $1($at cost$)$ : $$213,000$

Purchases from January $1$ to date of inventory estimate: $$870,00$

Net sales for period: $$1,130,000$

Use the above data to compute the estimated inventory cost for Williamson Company under the gross profit method.

$\backslash$table$[[$Seginning inventory, January $1,213,000],[$Purchases$,870,000],[$Cost of goods available for sale,$$1,083,000$