Current Attempt in Progress Bramble 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 Sales revenue Beginning inventory Purchases for the year Purchase returns $180,800 361.100 $662.500 24,600 Sales returns 27.100 Rate of gross profit on net sales 30 % Merchandise with a selling price of $20,000 remained undamaged after the re. Damaged merchandise with an original selling price of $15,500 had a net realizable value of $5,600 Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage. Amount of the loss $