Compute the cost of goods destroyed

Oriole requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $80,000. Purchases since January 1 were $141,000; freight-in, $7,200; purchase returns and allowances, $4,500. Sales are made at 25% above cost and totaled $193,000 to March 9. Goods costing $22,400 were left undamaged by the fire; remaining goods were destroyed.