Sheridan Corp had $920,000 of inventory at December 31, 2024, with purchases of $276,000 and sales of $644,000 in 2025. Sheridan Corp lost all but $92,000 of inventories due to a hurricane in 2025. Using the gross profit method, calculate ending inventory independently using the following assumptions: 1. Sheridan's gross margin was 30% $ 2. Sheridan mark up on cost was 20% $ 3. Sheridan's cost of sales percentage was 60% $