vaughn 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. beginning inventory purchases for the year purchase returns $158,100 391,500 31,100 sales revenue sales returns rate of gross profit on net sales $646,500 22,000 30 % merchandise with a selling price of $23,100 remained undamaged after the fire. damaged merchandise with an original selling price of $15,700 had a net realizable value of $5,500. compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage.