Bullock's accounting records indicated the following information: Inventory, 1/1/15 $ 600,000 Purchases during 2015 3,000,000 Sales during 2015 3,800,000 A physical inventory taken on December 31, 2015, resulted in an ending inventory of $700,000. Bullock's gross profit on sales has remained constant at 25% in recent years. Bullock suspects some inventory may have been taken by a new employee. At December 31, 2015, what is the estimated cost of missing inventory?