Confucius Bookstore?s inventory is destroyed by a fire on September 5. 2015. The following data for year 2015 are available from the accounting records. Jan. 1 inventory $150,000 Jan. 1 through Sept. 5 purchases (net) $329,000 Jan. 1 through Sept. 5 sales (net) $658,000 Year 2015 estimated gross profit rate 30% Estimate the cost of the inventory destroyed