In December 2013, JB Masterpiece Merchandise Inc. had a significant portion of its inventory stolen. The company determined the cost of inventory remaining to be $32,400. The following information was taken from the records of the company:

            ________________________________Jan. 1, 2013 to Date of Theft......................2012

Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$141,670............................$156,430

Purchase returns and allowances. . . . . . . . . . . . . . . . . . . 7,250.................................6,580

Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 275,600.............................283,300

Sales returns and allowances . . . . . . . . . . . . . . . . . . . . . 3,400..................................2,900

Salaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,100.................................12,900

Rent. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,340....................................7,120

Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,030...................................1,340

Utilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,115...................................1,435

Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,925..................................3,741

Depreciation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,890 ..................................2,106

Beginning inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74,620..............................69,780

Instructions: Estimate the cost of the stolen inventory.