On January 1. The Parts Store had a $480.000 inventory at cost. During the first quarter of the year, it purchased $1,620,000 of merchandise, returned $24.600, and paid freight charges on purchased merchandise totalling $39.100. During the past several years, the store's gross profit on sales has averaged 30%. Under the assumption the store had $2.030,000 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