Eastman 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 84400

Purchase 373600

Purchase Return 31200

Sales Revenue 426400

Sales Returns 24100

Gross profit based on net selling price 33%

Merchandise with a selling price of $39,500remained undamaged after the fire, and damaged merchandise has a net realizable value of $8,490. The company does not carry fire insurance on its inventory. Compute the amount of inventory fire loss. (Do not use the retail inventory method.)