Pet Emporium had a robbery on the weekend in which a large amount of inventory was taken. The loss is covered completely by insurance. A physical inventory count determined that the cost of the remaining merchandise is $59,200. The following additional information is available: Beginning merchandise inventory Purchase returns and allowances Purchases Transportation-in Sales Sales returns and allowances Goods available for sale: Required: 1. Prepare an estimate of ending merchandise inventory using the retail method. Goods available for sale At Cost At Retail $ 75,700 $ 94,450 15,700 20,700 1,403,520 1,734,750 19,450 PET EMPORIUM Estimated Inventory 1,649,500 18,700 At Cost At Retail

Pet Emporium had a robbery on the weekend in which a large amount of inventory was taken. The loss is covered completely by insurance. A physical inventory count determined that the cost of the remaining merchandise is $59,200. The following additional information is available: Required: 1. Prepare an estimate of ending merchandise inventory using the retail method