On April $15,2026,$ fira damagad the office and warshouse of Marigold Corporation. The only accounting racord savad was the general

ledger, from which the balance shest data below was prepared.

The following data and information have baen gatherad.

The fscal year of the corporation ands on Decamber $31.$

An evamination of the April bank statemant and cancelsd chacks ravealad that chacks written during the pariod April $1-15$

totaled $$10,400$:$$4,560$ paid to accounts payable as of March $31,$$$2,720$ for April marchandise shipments, and $$3,120$ paid

for other expenses. Deposits during the same period amounted to $$10,360,$ which consistad of receipts on account from

customers with the evcaption of a $$760$ rafund from a vendor for merchandise returnad in April.

Corrspondance with suppliars revealad unrscorded ablizations at April $15$ of $$12,490$ for April marchandise shipmants,

including $$1,840$ for shipmants in transit $[$fo$.$b$.$ shipping point$)$ on that date.

Customers acknowladged indabtednass of $$36,900$ at$.$April $15,2026.$ It was also estimated that customars owed another

$$6,400$ that will nevar be acknowladgad or recoverad Of the acknowladged indabtednass, $$480$ will probably be

uncallactible.

The companies insuring the invantary agresd that the corporation's firs$-$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. The corporation's audited financial

statements disclased this information:

Imentory with a cost of $$5,600$ was salvagad and sold for $$2,800.$ The balance of the invantory was a total loss.

Computs the amount of inwentory firs loss.