Estimate ending inventories using gross profit method- given beginning inventory, net purchases, net sales, and % markup on cost, gross margin given all information

On August 31, a hurricane destroyed a retail location of Vinny's clothing including the entire inventory on hand at the location. The inventory on hand as of June 30 totaled $960,000. Since June 30 until the time of the hurricane, the company made purchases of $255,000 and had sales of $750,000. Assuming the rate of gross profit to selling price is 40%, what is the approximate value of the inventory that was destroyed?