The records of Alaska Company provide the following information for the year ended December 31. At Cost At Retail January 1 beginning inventory $ 472,550 $ 928,350 Cost of goods purchased 3,131,900 6,280,550 Sales 5,507,700 Sales returns 45,800 Required: 1. Use the retail inventory method to estimate the company's year-end inventory at cost. 2. A year-end physical inventory at retail prices yields a total inventory of $1,687,800. Prepare a calculation showing the company's loss from shrinkage at cost and at retail. Complete this questions by entering your answers in the tabs below. j Required 1 I Required 2 I Use the retail inventory method to estimate the company's 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 $ 472,550 $ 928,350 Cost of goods purchased 3,131,900 6,280,550 $ 3,604,450 $ 7,208,900 Net sales at retail