On November $21,2024,$ a fire at Hodge Company's warehouse caused severe damage to its entire inventory of Product Tex. Hodge estimates that all usable damaged goods can be sold for $$29,000.$ The following information was available from the records of Hodge's periodic inventory system:

Inventory, November $1,2024$

$\backslash$table$[[$Net purchases from November $1,$ to the date of the fire,$$185,000$