Current Attempt in Progress Your answer is incorrect. Tamarisk Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. The corporation's books disclosed the following. Merchandise with a selling price of $20,100 remained undamaged after the fire. Damaged merchandise with an original selling price of $16,200 had a net realizable value of $5,200. Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage