On January $1,20$X$1,$ Manuel Company$$s merchandise inventory was $$300,000.$ During $20$X$1,$ Manuel purchased $$1,900,000$ of merchandise and recorded sales of $$2,000,000.$ The gross profit margin on these sales was $20\%$ of the selling price.

Required:

What is Manuel$$s merchandise inventory at December $31,20$X$1?$