On April 15, 2013, fire damaged the office and warehouse of Stanislaw Corporation. The only accounting record saved was the general ledger, from the following trial balance.

STANISLAW CORPORATION
TRIAL BALANCE
MARCH 31, 2013
Cash

$25,100

Accounts receivable

40,300

Inventory, December 31, 2012

83,600

Land

35,600

Buildings

119,100

Accumulated depreciation

$50,400
Equipment

3,730

Accounts payable

27,300
Other accrued expenses

20,980
Common stock

103,050
Retained earnings

61,200
Sales revenue

136,700
Purchases

61,200

Miscellaneous expense

31,000

$399,630

$399,630

The following data and information have been gathered.

1. The fiscal year of the corporation ends on December 31.
2. An examination of the April bank statement and canceled checks revealed that checks written during the period April 1–15 totaled $17,000: $5,840 paid to accounts payable as of March 31, $3,330 for April merchandise shipments, and $7,830 paid for other expenses. Deposits during the same period amounted to $13,900, which consisted of receipts on account from customers with the exception of a $890 refund from a vendor for merchandise returned in April.
3. Correspondence with suppliers revealed unrecorded obligations at April 15 of $25,200 for April merchandise shipments, including $3,130 for shipments in transit (f.o.b. shipping point) on that date.
4. Customers acknowledged indebtedness of $46,300 at April 15, 2013. It was also estimated that customers owed another $8,110 that will never be acknowledged or recovered. Of the acknowledged indebtedness, $740 will probably be uncollectible.
5. The companies insuring the inventory agreed that the corporation’s fire-loss claim should be based on the assumption that the overall gross profit rate for the past 2 years was in effect during the current year.
6. Inventory with a cost of $7,880 was salvaged and sold for $3,590. The balance of the inventory was a total loss.

The corporation’s audited financial statements disclosed this information:

Year Ended
December 31

2012

2011
Net sales $539,300 $381,100
Net purchases 280,200 243,600
Beginning inventory 54,300 74,700
Ending inventory 83,600 54,300

Compute the amount of inventory fire loss. (Round ratios for computational purposes to 1 decimal places, e.g 78.5% and final answers to 0 decimal places, e.g. $28,987.)

Inventory fire loss
$