Wiley PLUS X C Date: Name: 1 x Q accounting fins x Q Ch. 9: Inventor X + * Not syncing o https://edugen.wileyplus.com/edugen... Return to Blackboard Kieso, Intermediate Accounting, 17e Help 1 System Announcements JS ractice Assignment Gradebook ORION Downloadable eTextbook ignment CALCULATOR PRINTER VERSION BACK NEXT Testbank Exercise 146 On January 1, a store had inventory of $53,500. January purchases were $40,000 and January sales were $90,000. On February 1 a fire destroyed most of the inventory. The rate of gross profit was 25% of cost. Merchandise with a selling price of $5,500 remained undamaged after the fire. Compute the amount of the fire loss, assuming the store had no insurance coverage. Fire loss Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER ca