Hurricane Apple destroyed Musa Inc. (MI) on November 22, 2022. At January 1, MI reported an inventory of $170,000. Sales from January 1, 2022, to November 22, 2022, totaled $480,000 and purchases totaled $195,000 during that time. MI consistently marks up its products 60% over cost to arrive at a selling price. The estimated inventory loss due to Hurricane Apple would be