On 1st Nov 2020, a business had inventory of $380,000. During the month,  sales totalled $650,000 and purchases $480,000. On 30th Nov 2020 a flood  destroyed some of the inventory. The undamaged goods in inventory were  valued at $220,000. The business operates with a standard gross profit  margin of 25%. Based on this information, what is the cost of the inventory destroyed in the  flood?

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