Selected data on inventory, purchases, and sales for Celebrity Tan Co. and Ranchworks Co. are as follows: Cost Retail $300,000 $575,000 Celebrity Tan Co. Inventory, August 1 Transactions during August: Purchases (net) Sales 2,021,900 3,170,000 3,250,000 $880,000 Ranchworks Co. Inventory, March 1 Transactions during March through November: Purchases (net) Sales Estimated gross profit rate 9,500,000 15,800,000 38% Required: 1. Determine the estimated cost of the inventory of Celebrity Tan Co. on August 31 by the retail method, presenting details of the computations. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Celebrity Tan Co. Estimated cost of Inventory August 31 Cost Retail Please answer correctly so I may check my work Ratio of cost to retail price: 2a. Estimate the cost of the inventory of Ranchworks Co. on November 30 by the gross profit method, presenting details of the computations. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Ranchworks Co. Estimated cost of Inventory November 30 Cost Please answer correctly so I may check my work 2b. Assume that Ranchworks Co. took a physical inventory on November 30 and discovered that $369,750 of inventory was on hand. What was the estimated loss of inventory due to theft or damage during March through November? $