Question 5 View Policies Current Attempt in Progress Novak 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 $166,700 364,700 27,700 Sales revenue Sales returns Rate of gross profit on net sales $586,100 22,600 40 % Merchandise with a selling price of $19,600 remained undamaged after the fire. Damaged merchandise with an original selling price of $15,300 had a net realizable value of $4.700. Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage. Amount of the loss $ e Textbook and Media Attempts of 3 used Submit Answer Save for later A g ent sent to Gradebook Your grade is being recorded sun for 19,2020, 8.5241 AM (Americanos Angeles 07.000 MacBook Air SDFGHJKU command