Nougaro Inc., a public company, uses the retail method to estimate inventory. Information relating to its inventory for the year is as follows: Cost Retail Inventory, beginning of year $ 850,000 $1,400,000 Purchases 2,950,000 4,600,000 Freight-in 135,000 Sales 4,650,000 Net markups 340,000 Net markdowns 125,000 Required: Calculate Nougaro Inc.s inventory value at the end of the year. (5 m