Solve this question by making tables.

Exercise 6-12 Estimating ending inventorygross profit method LO6 On January 1, The Parts Store had a \$490,000 inventory at cost. During the first quarter of the year, it purchased $1,630,000 of merchandise, returned $25,100, and paid freight charges on purchased merchandise totalling $39,600. During the past several years, the store's gross profit on sales has averaged 25%. Under the assumption the store had $2,040,000 of sales during the first quarter of the year, use the gross profit method to estimate its inventory at the end of the first quarter