Pharoah Company reported the following information for November and December 2022. November December Cost of goods purchased $537,000 $609,000 128,000 176,060 Inventory, beginning-of-month Inventory, end-of-month 176,060 Sales revenue 843,000 1,000,000 Pharoah's ending inventory at December 31 was destroyed in a fire. Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire. $ Estimated cost of ending inventory and Media