You are called by Bright Co. on July 16 and asked to make a claim for insurance as a result of a theft that took place the night before. You suggest that an inventory be taken immediately. The following data are available.

Inventory, July 1

$38,000

Purchases-goods placed in stock July 1-15

90,000

Sales-goods delivered to customers (gross)

116,000

Sales returns-goods returned to stock

4,000

Your client reports that the goods on hand on July 16 cost $24,500. Your past records show that sales are made at approximately 20% over sale. Bright's insurance covers goods owned.

What's the claim against the insurance company (e.g. the cost of inventory lost).