On 1 January 20X7 Centrelink Co. had inventory of $360,000. Sales for the year were $1,750,000 and purchases $1,800,000 of inventory during 20X7. On 31 December 20X7, the flood inundated some areas in warehouse where some inventory items were gone. The company’s salvaged inventories valued at $180,000. Centrelink Co. operates with a mark-up of 25%.What is the cost of inventory destroyed in the fire?$