Cullumber Corp had $1,280,000 of inventory at December 31,2024 , with purchases of $384,000 and sales of $896,000 in 2025 . Cullumber Corp lost all but $128,000 of inventories due to a hurricane in 2025. Using the gross profit method, calculate ending inventory independently using the following assumptions: 1. Cullumber's gross margin was 30% 2. Cullumber markup on cost was 20% 3. Cullumber's cost of sales percentage was 60%$