The records of Alaska Company provide the following information for the year ended December 31. Beginning inventory, January 1 Cost of goods purchased Sales Sales returns At Cost $ 472,650 3,059,809 At Retail $ 928,450 6,280,650 5,508,700 45,900 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 $1,688,800. Prepare a calculation showing the company's loss from shrinkage at cost and at retail. Complete this question by entering your answers in the tabs below. Required 1 Required 2 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%)) Cost-to-Retail At Cost At Retail Ratio Beginning inventory 472,650 $ 928,450 Cost of goods purchased 3,059,809 6,280,650 $ 3,532,459 $ 7,209,100 Net sales at retail $ Complete this question by entering your answers in the tabs below. Required 1 Required 2 A year-end physical inventory at retail prices yields a total inventory of $1,688,800. Prepare a calculation showing the company's 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 Estimated inventory Physical inventory Inventory shortage At Retail