On January 1, The Parts Store had a $350,000 inventory at cost. During the first quarter of the year, it purchased $1490,000 of merchandise returned $18.100, and paid freight charges on purchased merchandise totalling $32,600. During the past several years the store's gross profit on sales has averaged 20% Under the assumption the store had $1,900,000 of sales during the first quarter of the year, use the gross profit method to estimate its inventory at the end of the first quarter Ending inventory