VW PORCIOS Current Attempt in Progress Skysong 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 $158.100 Sales revenue 5646,500 Purchases for the year 391.500 Sales returns 22.000 Purchase returns 31.100 Rate of gross profit on net sales 30 % Merchandise with a selling price of $23,100 remained undamaged after the fire Damaged merchandise with an original selling price of $15.700 had a net realizable value of $5.500. Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage. Amount of the loss $ Save for Later Attempts: 0 of 1 used Submit