. Just Retail Ltd tries to determine ending inventory when preparing its quarterly financial statements. During the most recent quarter ended on June 30, the company purchased $2,000,000 of inventory, returned inventory costing $30,000 and also took advantage of purchase discounts of $24,000. The inventory purchase is always based on the FOB shipping point, and the total shipping costs concerning the inventory purchase were $5,555 for the quarter ended on June 30. Inventory on hand at the beginning of the quarter (April 1) was $600,000. In the last couple of years, the company has had a gross profit margin ratio of 35% and a net profit margin ratio of 10%. Total gross sales revenues for the quarter ended on June 30 were $3,700,000. Sales return amounts were $100,000 for the quarter ended on June 30. Sales discount amounts were $50,000 for the quarter ended on June 30.

Estimate the dollar amount of ending inventory on hand at June 30.

For your answer, make sure to put the number without dollar signs ($), commas (,), periods (.), and decimal points. Again, please state the number only without dollar signs, commas, periods, and decimal points for your answer. For example, if the answer happens to be 12345, then you must simply put 12345