Blue Company has the following data for the year: Beginning Inventory $240,000 Net Income $80,000 Net Sales Revenue $350,000 Sales Discounts $5,000 Normal Gross Profit Ratio 32% Cash Balance $15,000 Gross Purchases $120,000 Purchase Returns $8,000 What is the estimated ending inventory? (Round your final answer to the nearest dollar.) $114,000 O $117,400 $122,000 O $112,000 O None of the above.