The following information is available for October for Barton Company:

Beginning inventory $$350,000$

Net purchases $1,050,000$

Net sales $2,100,000$

Percentage markup on cost $,66\mathrm{.}67\%$

A fire destroyed Barton's October $31$ inventory, leaving undamaged inventory with a cost of $$21,000.$ Using the gross profit method, the estimated ending inventory destroyed by fire is

$$539,000.$

$$700,000.$

$$560,000$

$$119,000.$