Current Attempt in Progress Your answer is incorrect Headland 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. Inventory (beginning) $81.600 Sales revenue $410,400 Purchases 287.000 Sales returns 20,700 Purchase returns 27.800 Gross profit based on net selling price 33 % Merchandise with a selling price of $29,700 remained undamaged after the fire, and damaged merchandise has a net realizable value of $8.100. The company does not carry fire Insurance on its inventory Compute the amount of inventory fire loss. (Do not use the retail inventory method.) Inventory fire loss Assistance Used e Textbook and Media Attempts: 2 of 5 used Submit Answer Se for Later