The records of Earthly Goods provided the following information for the year ended December 31, 2020. Required

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The records of Earthly Goods provided the following information for the year ended December 31, 2020.

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Required

1. Prepare an estimate of the company?s year-end inventory by the retail method. Round all calculations to two decimal places.

2. Under the assumption the company took a year-end physical inventory at marked selling prices that totalled $1,685,800, prepare a schedule showing the store?s loss from theft or other causes at cost and at retail.

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Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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