On April 15, 2021, fire damaged the office and warehouse ofSunland Corporation. The only accounting record saved was thegeneral ledger, from which the balance sheet data below wasprepared.

SUNLAND CORPORATION MARCH 31, 2021
Cash	$19,370
Accounts receivable	42,940
Inventory, December 31, 2020	67,960
Land	35,270
Buildings	100,730
Accumulated depreciation		$39,930
Equipment	3,569
Accounts payable		25,275
Other accrued expenses		9,155
Common stock		96,700
Retained earnings		47,390
Sales revenue		125,490
Purchases	47,390
Miscellaneous expense	26,711
	$343,940	$343,940

The following data and information have been gathered.

1.		The fiscal year of the corporationends on December 31.
2.		An examination of the April bankstatement and canceled checks revealed that checks written duringthe period April 1–15 totaled $11,940: $5,869 paid to accountspayable as of March 31, $3,281 for April merchandise shipments, and$3,532 paid for other expenses. Deposits during the same periodamounted to $13,507, which consisted of receipts on account fromcustomers with the exception of a $1,031 refund from a vendor formerchandise returned in April.
3.		Correspondence with suppliersrevealed unrecorded obligations at April 15 of $14,150 for Aprilmerchandise shipments, including $2,203 for shipments in transit(f.o.b. destination) on that date.
4.		Customers acknowledged indebtednessof $46,120 at April 15, 2021. It was also estimated that customersowed another $8,550 that will never be acknowledged or recovered.Of the acknowledged indebtedness, $555 will probably beuncollectible.
5.		The companies insuring theinventory agreed that the corporation’s fire-loss claim should bebased on the assumption that the overall gross profit rate for thepast 2 years was in effect during the current year. Thecorporation’s audited financial statements disclosed thisinformation:
		Year Ended December 31 2020 2019 Net sales $505,760 $382,590 Net purchases 268,760 238,310 Beginning inventory 52,500 61,200 Ending inventory 67,960 52,500
6.		Inventory with a cost of $7,000 wassalvaged and sold for $3,230. The balance of the inventory was atotal loss.

Compute the amount of inventory fire loss. (Roundratios for computational purposes to 2 decimal places, e.g 78.52%and final answer to 0 decimal places, e.g.28,987.)

Inventory fire loss

$

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