"Pharoah 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 $$183,500$

Purchases for the year $358,400$

Purchase returns $30,000$

Sales revenue $$683,600$

Sales returns $22,800$

Rate of gross profit on net sales $30\%$

Merchandise with a selling price of $$23,100$ remained undamaged after the fire. Damaged merchandise with an original selling price of $$15,000$ had a net realizable value of $$5,800.$

Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage.

Amount of the loss $$ $"Pharoah Company lost most of its inventory in a fire in December just before the year$-$end physical inventory was taken. The

corporation's books disclosed the following.

Merchandise with a selling price of $$23,100$ remained undamaged after the fire. Damaged merchandise with an original selling price of

$$15,000$ had a net realizable value of $$5,800.$

Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage.

Amount of the loss $