07 Question 11 of 15 View Policies Show Attempt History Current Attempt in Progress Your answer is incorrect. Stellar Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. The corporation's books disclosed the following. Beginning inventory Purchases for the year Purchase returns $173,200 424,200 28.000 Sales revenue Sales returns Rate of gross profit on net sales $672.900 24,600 30 % Merchandise with a selling price of $21,000 remained undamaged after the fire. Damaged merchandise with an original selling pric of $16.100 had a net realizable value of $5,700. Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage. Amount of the loss 5 eTextbook and Media Sve for Later Attempts: 1 of 3 used Submit