On September 30, year 2, fire at Brock Companys only warehouse caused severe damage to its entire inventory. Based on recent history, Brock has a gross profit of 30% of net sales. The following information is available from Brocks records for the 9 months ended September 30, year 2:

Inventory at 1/1/Y2	$ 550,000
Purchases	3,000,000
Net sales	4,000,000

A physical inventory disclosed usable damaged goods which Brock estimates can be sold to a jobber for $50,000. Using the gross profit method, the estimated cost of goods sold for the 9 months ended September 30, year 2, should be

Group of answer choices

$2,050,000

$2,485,000

$2,750,000

$2,800,000