The records of Globe Products Company provided the following information for the year ended December 31:

\section*{Required}
1. Prepare an estimate of the company's year-end inventory by the retail method.
2. Under the assumption the company took a year-end physical inventory at marked selling prices that totaled \(\$ 84,250\), prepare a schedule showing the store's loss from theft or other cause at cost and at retail.

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January 1 beginning inventory.. Purchases Purchases returns Additional markups Markdowns. Sales. Sales returns At Cost $ 57,200 390,100 5,320 At Retail $ 75,200 551,000 7,580 11,200 2,800 548,600 6,900