Based on the following data, estimate the cost of the ending inventory:

Line Item Description Amount

Sales $$9,250,000$

Estimated gross profit rate $36\%$

Beginning inventory $$180,000$

Purchases $($net$)5,945,000$

Merchandise available for sale $$6,125,000$

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Estimated Cost of Ending Inventory

Line Item Description Amount

$$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$