The records of Alaska Company provide the following information for the year ended December 31

at coast at Retail

January 1 beginning inventory $ 472,950 $ 928,750

Cost of goods purchased 2,843,512 6,280,950 Sales 5,511,700 Sales returns 46,200

Required: 1. Use the retail inventory method to estimate the companys year-end inventory at cost. 2. A year-end physical inventory at retail prices yields a total inventory of $1,691,800. Prepare a calculation showing the companys loss from shrinkage at cost and at retail.

Complete this questions by entering your answers in the tabs below.

Required 1 Required 2

Use the retail inventory method to estimate the companys year-end inventory at cost. (Round your ratio calculations to 2 decimal places. (i.e. 10.15%))

At Cost Cost-to-Retail Ratio At Retail Beginning inventory $472,950 $928,750 Cost of goods purchased 2,843,512 6,280,950 Cost of goods available for sale $3,316,462 $7,209,700 Net sales at retail

Complete this questions by entering your answers in the tabs below

Use the retail inventory method to estimate the companys year-end inventory at cost. (Round your ratio calculations to 2 decimal places. (i.e. 10.15%))

	At Cost	Cost-to-Retail Ratio	At Retail
Beginning inventory	$472,950		$928,750
Cost of goods purchased	2,843,512		6,280,950
Cost of goods available for sale	$3,316,462		$7,209,700
Net sales at retail

A year-end physical inventory at retail prices yields a total inventory of $1,691,800. Prepare a calculation showing the companys loss from shrinkage at cost and at retail. (Round your ratio calculations to 2 decimal places. (i.e. 10.15%))

ALASKA COMPANY
Inventory Shortage
December 31
	At Cost	At Retail
Estimated inventory	not attempted	not attempted
Physical inventory	not attempted	not attempted
Inventory shortage