On April 15, 2021, fire damaged the office and warehouse of Pearl Corporation. The only accounting record saved was the general ledger, from which the balance sheet data below was prepared. Cash PEARL CORPORATION MARCH 31, 2021 $21,970 36,350 69,730 35,910 103,130 $41,802 3,801 22,380 3,723 94,800 54,490 135,950 54,490 Accounts receivable Inventory, December 31, 2020 Land Buildings Accumulated depreciation Equipment Accounts payable Other accrued expenses Common stock Retained earnings Sales revenue Purchases Miscellaneous expense 27,764 $353,145 $353,145 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 1-15 totaled $13,050: $5,948 paid to accounts payable as of March 31, $3,503 for April merchandise shipments, and $4,270 paid for other expenses. Deposits during the same period amounted to $13,539, which consisted of receipts on account from customers with the exception of a $994 refund from a vendor for merchandise returned in April. 3. Correspondence with suppliers revealed unrecorded obligations at April 15 of $14,831 for April merchandise shipments, including $2,262 for shipments in transit (f.o.b. destination) on that date. 4. Customers acknowledged indebtedness of $49,910 at April 15, 2021. It was also estimated that customers owed another $7,940 that will never be acknowledged or recovered. Of the acknowledged indebtedness, $642 will probably be uncollectible. 5. The companies insuring the inventory agreed that the corporation's 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. The corporation's audited financial statements disclosed this information: Net sales Net purchases Beginning inventory Ending inventory Year Ended December 31 2020 2019 $524,090 258,200 52,200 69,730 $414,360 238,950 69,970 52,200 6. Inventory with a cost of $6,400 was salvaged and sold for $3,640. The balance of the inventory was a total loss. Compute the amount of inventory fire loss. (Round ratios for computational purposes to 2 decimal places, e.g 78.52% and final answer to 0 decimal places, e.g. 28,987.) Inventory fire loss 64265 LINK TO TEXT