On May 30, a manufacturing facility of a medium-sized company was severely damaged by an earthquake followed by a fire. As a direct result, the company's direct materials, work-in-process and finished goods inventories were destroyed. Records recovered from the disaster revealed the following incomplete accounting information: 1. Beginning Inventories Direct Materials Work-in-Process Finished Goods 2. May results Net sales Direct materials purchased Direct labor cost 3. Key ratios for this plant: Gross Profit Prime costs Ending WIP Manufacturing Overhead $55,000 $90,000 $25,000 $1,275,000 $550,000 $400,000 20% of net sales 60% of total manufacturing costs 10% of total manufacturing costs 60% of conversion cost Required: Estimate the cost of the inventory lost (RM, WIP & FG) by reconstructing the Cost of Goods Manufactured and Sold report.