Wildhorse Company reported the following information for November and December 2020.

November

December

Cost of goods purchased$538,000$603,000Inventory, beginning-of-month126,000171,000Inventory, end-of-month171,000????Sales revenue850,0001,000,000

Wildhorse's ending inventory at December 31 was destroyed in a fire.

(a)

(b)

Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire.(Round answer to 0 decimal places, e.g. 1,250.)

Estimated cost of ending inventory