When preparing its quarterly financial statements, Pace Co uses the gross margin method to estimate ending inventory. The following information is available for the quarter ending March 31. Year 2 Beginning inventory Purchases Sales Estimated gross margin percentage $ 230,500 $ 833,000 $1,195,500 45% What is the estimated amount of Inventory that is on hand on March 31, Year 2? (Do not round your intermediate calculations.) Multiple Choice o $584,925 $657525 $478,575 $405.975