Waltham Distribution Company has measured its December 31, 2020, inventory on a FIFO basis at $200,000. Information pertaining to that inventory follows.

Item	Amount
Estimated selling price	$208,000
Estimated cost of disposal	$10,000
Normal profit margin	$30,000
Current replacement cost	$190,000

At December 31, 2020, what is the loss that Waltham should recognize? Assume no previously recorded inventory losses.