A fire broke in the warehouse of Nada Company, all the inventory was destroyed. The accountant needed to estimate the loss for insurance claims. The following records pertains to its inventory, 20,000, Merchandise Inventory, beginning OMR Net Purchases OMR 50,000, Cost of goods sold is OMR 60,000. Compute cost of inventory loss (HINT: Find merchandise inventory ending) OMR 30,000 OMR 70,000 OMR 60,000 OMR 10,000