Retail Method of Estimating Inventory 11 marks Your Score The records of Earthly Goods provided the following information for the year ended December 21 2020 At Cost At Retail January 1 beginning inventory $942,700 $1,854,300 Purchases $6,657,660 $12,797,400 Purchase returns $105,600 $238,700 Sales $10,991,400 Sales Returns $89,200 Required: Prepare an estimate of the company's year end inventory using the retail method.