Skysong Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. The corporations books disclosed the following.

Beginning inventory		$170,300		Sales revenue		$622,000
Purchases for the year		388,200		Sales returns		22,300
Purchase returns		30,400		Rate of gross profit on net sales		20	%

Merchandise with a selling price of $20,100 remained undamaged after the fire. Damaged merchandise with an original selling price of $16,200 had a net realizable value of $5,200. Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage.