H. Hunter Company's records indicate the following information for the year:

Beginning Inventory	$ 550,000
Purchases	$ 2,250,000
Net Sales	$ 3,200,000

On December 31, a physical inventory determined that ending inventory of $500,000 was in the warehouse. H. Hunter's gross profit on sales has remained constant at 30%. H. Hunter suspects some of the inventory may have been taken by some new employees. At December 31, what is the estimated cost of missing inventory?