Current Attempt in Progress Waterway Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. Corporate records disclose the following. Inventory (beginning) $ 80,800 Sales revenue $416,000 Purchases 288,000 Sales returns 21,300 Purchase returns 28,100 Gross profit % based on net selling price 36 % Merchandise with a selling price of $30,300 remained undamaged after the fire, and damaged merchandise has a net realizable value of $8,300. The company does not carry fire insurance on its inventory. Compute the fire loss incurred. (Do not use the retail inventory method.) Inventory fire loss +A $