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 (beginning)		$ 84,000		Sales revenue		$428,400
Purchases		370,100		Sales returns		21,800
Purchase returns		29,200		Gross profit % based on net selling price		34	%

Merchandise with a selling price of $34,600 remained undamaged after the fire, and damaged merchandise has a net realizable value of $9,120. The company does not carry fire insurance on its inventory. Compute the amount of inventory fire loss. (Do not use the retail inventory method.)

Inventory fire loss $_______________________

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