Problem 2: Neuronic Company had a beginning inventory that cost $175,000, which was marked for retail at $295,000. During 2019, they made purchases with a net cost of $1,325,000, which they hoped to retail for $2,250,000. Their total sales for the year amounted to $2,160,000 Use the retail method of inventory estimation to calculate the cost of the year-end inventory for 2019