Eat 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) $ 80,900 Sales revenue $415,300

Purchases 286,500 Sales returns 20,700

Purchase returns 28,200 Gross profit % based on net selling price 34 %

Merchandise with a selling price of $30,300 remained undamaged after the fire, and damaged merchandise has a net realizable value of $7,300. 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 $______________________