Problem 9-06 * Your answer is incorrect. Try again. Blossom Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. Corporate records disclose the following. Sales revenue Inventory (beginning) Purchases Purchase returns $ 79,400 288,900 28,500 Sales returns Gross profit % based on net selling price $417,900 20,900 33 % Merchandise with a selling price of $30,100 remained undamaged after the fire, and damaged merchandise has a net realizable value of $8,200. The company does not carry fire insurance on its inventory. Compute the amount of inventory fire loss. (Do not use the retail inventory method.) X Inventory fire loss LINK TO TEXT Question Attempts: Unlimited