Marigold Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. Corporate records disclose the following $ 79,600 Sales revenue $409,800 Inventory beginning) Purchases 284,900 Sales returns 20.900 Purchase returns 29,000 Gross profit based on net selling price 35 % Merchandise with a selling price of $29.800 remained undamaged after the fire, and damaged merchandise has a net realizable value of $8,000. The company does not carry fire insurance on its inventory. Compute the amount of inventary fire loss.