Exercise 9-16 Shamrock Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. The corporation's books disclosed the following Beginning inventory $172,400 Sales revenue 5621,100 Purchases for the year 406,400 Sales returns 22,800 Purchase returns 27,100 Rate of gross profit on net sales 30% Merchandise with a selling price of $21,300 remained undamaged after the fire Damaged merchandise with an original selling price of $14,600 had a net realizable value or $5,200 Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage. dy Amount of the loss $ Show Work Is REQUIRED for this question: Open Show Work Question Attempts: 0 of 1 used SAVE POR LATER SUBMIT