Bryce Company manufactures pet supplies. However, Bryce's electronic accounting system recently crashed and, unfortunately, only a partial recovery of the company's year-end accounting records (which included several profitability ratios) was possible. As a result, Bryce's controller, a bright young CMA named Jeanette, must compute various lost financial account balances using the recovered information listed below.

Long-term liabilities$1,500,000Ending inventory is the same as beginning inventory.Gross margin$2,600,000Net sales$7,800,000Accounts receivable turnover50Ending accounts receivable is the same as beginning accounts receivable.Total liabilities$1,700,000Current ratio4Cash$510,000Quick ratio3.5Inventory turnover in days3.65

Calculate average inventory.