You are called by Tim Duncan of Sunland 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.

Your client reports that the goods on hand on July $16$ cost $$24,400,$ but you determine that this figure includes goods of

$$4,800$ 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, e$.$g$.78\mathrm{.}736\%$ and final

answer to $0$ decimal places, e$.$g$.28,987.)$

Claim against the insurance company $