Pharoah requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $77,000. Purchases since January 1 were $150,000; freight-in, $7,500; purchase returns and allowances, $4,900. Sales are made at 25% above cost and totaled $205,000 to March 9, Goods costing $22,200 were left undamaged by the fire, remaining goods were destroyed