On July 1, 2013, a fire destroyed the entire inventory of Stewart Clothes, a retail store. The accounting records that were saved showed that the firm's gross profit rate was 40 percent of net sales. During the period of January 1 to July 1, 2013, the store had net sales of $345,000 and net purchases of $325,000. On December 31, 2013, the inventory was $50,000. What is the estimated ending (destroyed) inventory?

a.$168,000

b.$118,000

c.$187,000

d.$237,000