On January 1, Year 1, ABC Merchandising Company was started. The company experienced the following events during the first year of operation: 1. Started the business by issue common stock for $1,000 cash. 2. Purchased $410 of inventory on account. 3. Sold merchandise costing $350 for $390 on account. 4. Collected $270 cash from accounts receivable. 5. Paid $370 of outstanding accounts payable. What is the value of ABC Merchandising Company's ending Merchandise Inventory for Year 1? $410 $60 $350 $20