Dean Company uses the retail inventory method to estimate its inventory for interim statement disclosures. Data relating to the computation of the inventory at July 31, 2020, follow. Compute estimated inventory on July 31, 2020, using the average cost retail method.

Cost Retail Beginning inventory, February 1, 2020 $180,000 $250,000 Purchases 1,020,000 1,575,000 Markups, net 175,000 Sales 1.725,000 Markdowns, net 125,000 Ending Inventory at cost $