During the first six months of the current year, Cannoll Wine Warehouse sells 120 bottles of Gelato Vineyard's highly regarded Cabernet Nicolse for $300 ench Cannoli had the following Inventory purchase transactions during the first six months of the year: Date Jan 1 Apr 1 May 20 Transaction Beginning inventory Purchase Purchase Goods available for sale Number of Bottles 100 100 44 244 Unit Cost $180 210 240 Total Cost $18,000 21,000 10,550 $49,560 Cannoli uses the FIFO inventory method and calculated its cost of goods sold and ending inventory for the first six months of the year as follows: Date Unit Cost Transaction Goods available for sale COGS Ending Inventory Number of Bottles 244 120 124 Total Cost $49,560 22,200 $27,360 n July 1. (after selling 120 bottles during the first six months for $300 each), two respected wine experts published tower than expected ratings for Gelato's Caberne colse. As a result, Cannoll was forced to reduce the sales price of the Cabernet Nicolse to $214 ench. quired Calculate Connoll's loss due to inventory writedown on July 1, (Important: Round to the nearest dollar). Fill in the blank