Wayman Company wants to prepare interim financial statements for the first quarter. The company wishes to avoid making a physical count of inventory. Wayman's gross profit rate averages 35%. The following information for the first quarter is available from its records. January 1 beginning inventory $ 300,260 Cost of goods purchased 939,050 Sales 1,191,150 Sales returns 9,450 Required: Use the gross profit method to estimate the company's first quarter ending inventory. (Omit the "$" sign in your response.) Ending inventory $