On January 1, 2023, Grizzly Corporation has the following information for 2023: Inventory, January 1 .................... $ 600,000 Purchases ...................................... 1,150,000 Sales ............................................... 1,350,000 Gross profit.................................... 472,500 What is the estimated dollar value of the inventory at December 31? Group of answer choices $872,500 $562,500 $472,500 $877,50