Fabiana's Designs has three lines of women's wear: Teenage, Young Woman, and Mature. On May 18, 2017, Fabiana's Designs had a fire that destroyed the Teenage line of inventory. Sales for the period January 1 to May 18 for the Teenage line were $800,000. Inventory at January 1, 2017, for the Teenage line was $95,000 (cost), $285,000 (retail). Purchases made from January 1 to May 18 for the Teenage line at cost were $240,000, and at retail were $720,000. Use the retail method to calculate the cost of the inventory lost in the fire.