Skysong Company lost most of its inventory in a fire in November just before the year-end physical inventory was taken. Corporate records disclose the following. Merchandise with a selling price of $60,100 remained undamaged after the fre, and damaged merchandise has a salvage value of $28,500. The company does not carry fire insurance on its inventory. Compute the fire loss incurred. (Do not use the retail inventory method.) Inventory fire loss