When preparing its quarterly financial statements, Pace Co. uses the gross margin method to estimate ending inventory. The following information is available for the 1^stquarter of 2016:

Beginning inventory	$ 227,000
Purchases	$ 814,000
Sales	$1,151,000
Estimated gross margin percentage	45%

What was Pace's estimated inventory on March 31, 2016?(Do not round your intermediate calculations.)

$407,950$633,050$572,550$468,450