Covenant Company reported inventory of 360,000 at December 31, 2019. The following data were gathered to confirm the reported inventory

Inventory, December 31, 2018- 320,000

Purchases during 2019- 1,410,000

Cash sales during 2019- 350,000

Shipment received on December 26, 2019 included in physical inventory, but not recorded as purchases, 10,000.

Deposit made with suppliers, 20,000, entered as purchases. Goods were not received during 2019.

Collections on accounts receivable during 2019- 1,800,000

Accounts receivable, December 31, 2018- 250,000

Accounts receivable, December 31, 2019- 300,000

Gross profit percentage on sales- 40%

What is the estimated inventory shortage at December 31 2015?