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You are called by Tim Duncan of Blossom Co. on July 16 and asked to prepare a claim for insurance as a result of a

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You are called by Tim Duncan of Blossom 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 suggst that an inventory be taken immedlately. The following data are avallable. Your client reports that the goods on hand on July 16 cost $32,000, but you determine that this figure includes goods of $5, 600 received on a consignment basis. Your past records show that sales are made at approximately 25% over cost. Duncan's insurance covers only goods owned, Compute the claim against the insurance company. (Round ratios for computational purposes to 3 decimal places, es. 78.736\% and final answer to 0 decimal places, e.g. 28.987) Claimagainst the insurance company

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