Northwest Fur Company started 2024 with $106,000 of Inventory on hand. During 2024, $550,000 in Inventory was purchased on account with credit terms of 2/ "/45 All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $9,400. Inventory with an Invoice amount of $5,000 was returned for credit. Cost of goods sold for the year was $365,000. Northwest uses a perpetual Inventory system. What Is ending Inventory assuming Northwest uses the gross method to record purchases?