The Following Information Is Available for the Williston Company for the Month

Essay

The following information is available for the Williston Company for the month ended September 30:
$\begin{array}{lc}\text { Inventory, September 1 } & \$ 600,000 \\\text { Purchases } & 2,250,000 \\\text { Freight In } & 150,000 \\\text { Sales } & 3,200,000\end{array}$ The gross margin was 40 percent of sales. What is Williston's estimated inventory balance at September 30?