Universal Suppliers had sales of $477,000 in the month of June. Use the retail method to estimate the value of the inventory (in $) as of June 30 given the following financial information: Universal Suppliers Financial Highlights June 1-June 30 Cost Retail Beginning Inventory $306,371 $581,900 Net Purchases (June) 123,353 228,900 $On July 1, the total inventory for Save-Mar Merchandisers was $614,100. Net purchases during the month were $313,900 and sales amounted to $611,400. Gross margin on sales was 61%. Estimate the cost value of the inventory as of July 31 using the gross prot method (in $). 35:]