Exercise 9-17 You are called by Tim Duncan of Wildhorse Co. on July 16 and asked to prepare a claim for insurance as a result of a theft that took place the night before. You suggest that Level an inventory be taken immediately. The following data are available. Inventory, July1 Purchases-goods placed in stock July 1-15 Sales revenue-goods delivered to customers (gross) Sales returns-goods returned to 41,000 77,300 111,100 4,300 Level Your client reports that the goods on hand on July 16 cost $28,700, but you determine that this figure includes goods of $6,400 received on a consignment basis. Your past records show that sales are made at approximately 40% over cost. Duncan's insurance covers only goods owned. Study Compute the claim against the insurance company. places, e.g. 28,987.) Round ratios for co putational purposes to 2 decimal places, eg 78.73% and final answer to O decimal Gaim against the insurance company s