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Show Attempt History 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) $ 80.900 Sales revenue $415,300 Purchases 286,500 Sales returns 20,700 Purchase returns 28,200 Gross profit % based on net selling price 34 % Merchandise with a selling price of $30,300 remained undamaged after the fire and damaged merchandise has a net realizable value of $7,300. 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 $ e Textbook and Media Suve for Later Attempts: 1 of 3 used Submit