Ayayai 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 $172,400 Sales revenue $671,100 Purchases for the year 389,000 Sales returns 23,900 Purchase returns 28,600 Rate of gross profit on net sales 30 % Merchandise with a selling price of $20,100 remained undamaged after the fire. Damaged merchandise with an original selling price of $15,200 had a net realizable value of $5,600. Compute the amount of the loss as a result of the fire, assuming that the corp ation had no insurance coverage. Amount of the loss