Late in 2014, Joan Seceda and four other investors took the chain of Tamarisk Department Stores private, and the company has just completed its third year of operations under the ownership of the investment group. Andrea Selig, controller of Tamarisk Department Stores, is in the process of preparing the year-end financial statements. Based on the preliminary financial statements, Seceda has expressed concern over inventory shortages, and she has asked Selig to determine whether an abnormal amount of theft and breakage has occurred. The accounting records of Tamarisk Department Stores contain the following amounts on November 30 2017, the end of the fiscal year Cost $67,700 275,120 Retail Beginning inventory Purchases Net markups Net markdowns Sales revenue $98,600 402,300 49,800 108,200 326,300 According to the November 30, 2017, physical inventory, the actual inventory at retail is $111,700 Assuming that prices have been stable, calculate the value, at cost, of Tamarisk Department Stores' ending inventory using the last-in, first-out (LIFO) retail method (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, eg. 28,987.) Estimated ending inventory at Cost Estimate the amount of shortage, at retail, that has occured at Tamarisk Department Stores during the year ended November 30, 2017 Estimated inventory shortage