1. (7 points) Calculate: $123 \times 32 \times 125=$ $\qquad$
【Analysis】 $32=4 \times 8$, and then simplify the calculation according to the commutative and associative laws of multiplication.
【Solution】Solution: $123 \times 32 \times 125$
$$
\begin{array}{l}
=123 \times(4 \times 8) \times 125 \\
=(123 \times 4) \times(8 \times 125) \\
=492 \times 1000 \\
=492000 .
\end{array}
$$

Therefore, the answer is: 492000 .