Carla Vista Company reported the following information for November and December 2020.

November:

Cost of goods purchased $533,000

Inventory, beginning of month $129,000

Inventory, end of month $131,900

Sales revenue $855,000

December:

Cost of goods purchased $614,000

Inventory, beginning of month $131,000

Inventory, end of month ????

Sales revenue 1,000,000

Using the gross profit rate (38%) for November, determine the estimated cost of inventory lost in the fire.