Pronghorn 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 Purchases for the year Purchase returns $170,200 425,600 32,500 Sales revenue Sales returns Rate of gross profit on net sales $658,800 23,300 40% Merchandise with a selling price of $22,000 remained undamaged after the fire. Damaged merchandise with an original selling price of $15,200 had a net realizable value of $4,900. Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage. Amount of the loss $