The records of Alaska Company provide the following information for the year ended December 31 January 1 beginning inventory Cost of goods purchased Sales Sales returns At Cost $ 472,250 3,924,813 At Retail $928,050 6,280,250 5,504,700 45,500 Required 1. Use the retail inventory method to estimate the company's year-end inventory at cost. (Round "Cost-to- Retail Ratio" to nearest whole number.) ost-to-Retail Ratio At Cost At Retail S 928,050 S 7,208,300 Beginning inventory Cost of goods purchased 472,250 3,924,813 S 4,397,063 6,280,250 Net sales at retail 2. A year-end physical inventory at retail prices yields a total inventory of $1,684,800. Prepare a calculation showing the company's loss from shrinkage at cost and at retail. ASKA COMPAN Inventory Shortage December 31 At Cost At Retail Estimated inventory Physical inventory Inventory shortage 0 S