Cullumber Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $49,400. Purchases since January 1 were $93,600; freight-in, $4,420; purchase returns and allowances, $3,120. Sales are made at 33 ¹/₃% above cost and totaled $156,000 to March 9. Goods costing $14,170 were left undamaged by the fire; remaining goods were destroyed.

Please Show Work