The following data is available: 
Using the gross profit method,the estimated ending inventory balance would be ________.
Definitions:
Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to buy at various prices.
Plumbing Market
A segment of the market that deals with the distribution and installation of water supply and sanitary systems in buildings.
Long-Run Equilibrium
A state in which all firms in an industry are producing at their minimum long-run average cost, and the market supply equals market demand.
Profit-Maximizing Quantity
The level of production at which a company can achieve the highest possible profit.
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