Black Summer Company uses the retail inventory method to estimate its inventory for interim statement purposes. Data pertaining to the computation of inventory at June 30, 2019 follows:

Inventory, January 1: At cost- P180,000;

At retail- P250,000

Purchases; At cost- P1,020,000;

At retail- P1,575,000

Net mark-ups- P175,000;

Sales- P1,075,000

Estimated normal shoplifting losses- P20,000;

Net markdowns- P125,000

What is Black Summer's estimated inventory at June 30, 2019 using the retail inventory method?