F CISE 6.4 ic Inventory n-Inventory e during Year Neel & Neal Inc. is a retailer of fine leather goods. The company's inventory balance at the begin- ning of the year was $300,000; Neel & Neal purchased $250,000 of goods during January, and sales during January were $400,000. What is the balance that would appear in Neel & Neal's inventory account on February 1 assuming use of a periodic inventory system?

CISE 6.4 ic Inventory -Inventory e during Year Neel \& Neal Inc. is a retailer of fine leather goods. The company's inventory balance at the beginning of the year was $300,000; Neel \& Neal purchased $250,000 of goods duriny jenuary, and sales during January were $400,000. What is the balance that would appear in :.7el \& Neal's inventory account on February 1 assuming use of a periodic inventory system