Blosson Company lost most of its irventory in a fire in December just before the year end physical inventory was taken. The corporation's books disclosed the following. Merchandise with a selling price of $18,900 remained undamaged after the fire. Damaged merchandise with an original selling price of $14,100 had a net realizable value of $5,200, 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