Sandhill Company's accounting records indicated the following information:

Inventory, 1/1/20	$ 1880000
Purchases during 2020	9800000
Sales during 2020	12280000

A physical inventory taken on December 31, 2020, resulted in an ending inventory of $2180000. Sandhill's gross profit on sales has remained constant at 24% in recent years. Sandhill suspects some inventory may have been taken by a new employee. At December 31, 2020, what is the estimated cost of missing inventory?

$432800.

$767200.

$600000.

$167200.