Kauai Store’s inventory is destroyed by a fire on September 5, 2008. The following data for year 2008 are available from the accounting records. Estimate the cost of the inventory destroyed.

Jan. 1 inventory . . . . . . . . . . . . . . . . . . . . . . . $190,000 P4 Jan. 1 through Sept. 5 purchases (net) . . . . . . . . $352,000 Jan. 1 through Sept. 5 sales (net) . . . . . . . . . . . $685,000 Year 2008 estimated gross profit rate . . . . . . . 44%