On April 30, Greenfield Sales, Inc. lost its entire inventory in a flood. The following information is available from the company's accounting records, which were recovered from the waterproof safe: Inventory, January 1 Purchases, January 1 through April 30 Net sales, January 1 through April 30 $325,000 $675,000 $975,000 The gross profit of Greenfield Sales, Inc. over the past several years has consistently averaged 25% of net sales. Using the gross profit method, estimate the cost of the inventory lost in the flood on April 30