On January $1,2023,$ the merchandise inventory of Shoesmith Corp. was $$600,000.$ During $2023,$ Shoesmith purchased $$1,150,000$ of merchandise and recorded sales of $$1,350,000.$ The gross profit rate on these sales was $35\%.$ What is the estimated dollar value of the inventory at December $31?$

Question $34$ Select one:

a$.$

$$562,500$

b$.$

$$472,500$

c$.$

$$872,500$

d$.$

$$877,500$