Cat's Meow Incorporated recently suffered a fire in its warehouse. The fire destroyed all of the company's inventory on hand at September 30, 2020 The opening inventory on September 1 was $897,000 Cat's Meow had net purchases in September totalling $289,000. Sales during September amounted to $1,609,000, and the company normally has a gross profit ratio of 57% Using the gross profit method, estimate the value of inventory destroyed in the fire. Round your calculations to the nearest whole dollar