Crane, Inc. estimates the cost of its physical inventory at March 31 for use in an interim financial statement. The rate of markup on cost is 25%. The following account balances are available: Inventory, March 1 $561000 Purchases 441000 Purchase returns 31000 Sales during March 783000 The estimate of the cost of inventory at March 31 would be O $188000, O $375600. $344600. O $219000