You are called by Bright Co. on July 16 and asked to prepare 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.

Compute the claim against the insurance company (e.g. the cost of inventory lost)