A fire occurred on September 30,1998, in the Store of Mr Andy. From the following figures Ascertain the claim to be lodged. Stock on January 1, 1998 17,000 Purchases from January 1, 1998, to date of fire 1,70,000 Wages and other manufacturing expenses Sales from January 1, 1998, to date of fire 17,000 2,00,000 The rate of gross profit is 25% on cost. The stock salvaged was valued at $ 4,000.