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Windsor Company lost most of its inventory in a fire in December just before the...

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Accounting

Windsor 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.
Merchandise with a selling price of $30,200 remained undamaged after the fire, and damaged merchandise halue
of $8,200. The company does not carry fire insurance on its inventory.
Compute the fire loss incurred. (Do not use the retail inventory method.)
Inventory fire loss $
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