You are called by Tim Duncan of Spurs 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	$39,230
Purchasesgoods placed in stock July 115	91,550
Sales revenuegoods delivered to customers (gross)	118,800
Sales returnsgoods returned to stock	4,310

Your client reports that the goods on hand on July 16 cost $35,440, but you determine that this figure includes goods of $7,470received on a consignment basis. Your past records show that sales are made at approximately 40% over cost. Duncans insurance covers only goods owned.

Compute the claim against the insurance company. (Round answer to 0 decimal places, e.g. 28,987.)

Claim against the insurance company