1. **State the problem:** Calculate the ending inventory balance for ALICE Co. using the periodic inventory system. 2. **Given data:** - Beginning inventory = 26000 - Purchases during the year = 390000 - Cost of goods sold (COGS) = 360000 - Gross profit = 145000 3. **Formula used:** Ending Inventory = Beginning Inventory + Purchases - Cost of Goods Sold 4. **Explanation:** In a periodic inventory system, the ending inventory is calculated by adding the beginning inventory to purchases made during the year and then subtracting the cost of goods sold. 5. **Calculate ending inventory:** $$\text{Ending Inventory} = 26000 + 390000 - 360000 = 56000$$ 6. **Answer:** The balance of the inventory account to be presented in the Statement of Financial Position is $56000$.