On September 28, 2010, a fire destroyed the entire merchandise inventory of the Carroll Corporation. The following

Question:

On September 28, 2010, a fire destroyed the entire merchandise inventory of the Carroll Corporation. The following information is available:
Sales, January 1—September 28, 2010 .......... $540,000
Inventory, January 1, 2010 ................. $150,000
Merchandise purchases, January 1—September 28, 2010
(including $60,000 of goods in transit on September 28,
2010, shipped FOB shipping point) ............ $465,000
Markup percentage on cost ................ 20%

Required
What is the estimated inventory on September 28, 2010 immediately prior to the fire?