Concord Company reported the following information for November and December 2022

November :

Cost of goods purchased $516,000

Inventorybeginning-of-month 115,000

Inventory end-of-month 58,300

Sales revenue 830,000

December :

Cost of goods purchased $710,000

Inventorybeginning-of-month $ 58,300

Inventory end-of-month ?

Sales revenue $978,000

Gross Profit Rate for November = 31%

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

Estimated cost of ending inventory $_____