On April 15, 2013, fire damaged the office and warehouse of Stanislaw Corporation. The only accounting record saved was the general ledger, from the following trial balance. STANISLAW CORPORATION TRIAL BALANCE MARCH 31, 2013 Cash $25,100 Accounts receivable 40,300 Inventory, December 31, 2012 83,600 Land 35,600 Buildings 119,100 Accumulated depreciation $50,400 Equipment 3,730 Accounts payable 27,300 Other accrued expenses 20,980 Common stock 103,050 Retained earnings 61,200 Sales revenue 136,700 Purchases 61,200 Miscellaneous expense 31,000 $399,630 $399,630 The following data and information have been gathered. 1. The fiscal year of the corporation ends on December 31. 2. An examination of the April bank statement and canceled checks revealed that checks written during the period April 115 totaled $17,000: $5,840 paid to accounts payable as of March 31, $3,330 for April merchandise shipments, and $7,830 paid for other expenses. Deposits during the same period amounted to $13,900, which consisted of receipts on account from customers with the exception of a $890 refund from a vendor for merchandise returned in April. 3. Correspondence with suppliers revealed unrecorded obligations at April 15 of $25,200 for April merchandise shipments, including $3,130 for shipments in transit (f.o.b. shipping point) on that date. 4. Customers acknowledged indebtedness of $46,300 at April 15, 2013. It was also estimated that customers owed another $8,110 that will never be acknowledged or recovered. Of the acknowledged indebtedness, $740 will probably be uncollectible. 5. The companies insuring the inventory agreed that the corporations fire-loss claim should be based on the assumption that the overall gross profit rate for the past 2 years was in effect during the current year. 6. Inventory with a cost of $7,880 was salvaged and sold for $3,590. The balance of the inventory was a total loss. The corporations audited financial statements disclosed this information: Year Ended December 31 2012 2011 Net sales $539,300 $381,100 Net purchases 280,200 243,600 Beginning inventory 54,300 74,700 Ending inventory 83,600 54,300 Compute the amount of inventory fire loss. (Round ratios for computational purposes to 1 decimal places, e.g 78.5% and final answers to 0 decimal places, e.g. $28,987.) Inventory fire loss $