CHECK FIGURE: Loss = $40,200 Poundmaker Company just had a fire in its warehouse that destroyed all of its merchandise inventory. The insurance company covers 80% of the loss. The following information is available regarding the year ended March 31, 2020: At Cost At Retail Beginning merchandise inventory. Purchases..... Purchase returns and allowances. Transportation-in... Sales.. $ 75,000 $ 125,000 1,050,000 1,750,000 125,000 200,000 5,000 1,357,500 17,500 Sales returns and allowances. Required Prepare an estimate of the company's loss using the retail method