Pronghorn Corporations March 31 inventory was destroyed by fire. January 1 inventory was $220,500, and purchases for January through March totaled $764,400. Sales revenue for the same period was $882,000. Pronghorns normal gross profit percentage is 25% on sales. Using the gross profit method, estimate Pronghorns March 31 inventory that was destroyed by fire.

Estimated ending inventory destroyed in fire