The records of Alaska Company provide the following information for the year ended December 31. At Cost At Retail January 1 beginning inventory $ 471,750 $ 927,550 Cost of goods purchased 3,564,338 6,279,750 Sales 5,499,700 Sales returns 45,000 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 $1,679,800. Prepare a calculation showing the companys loss from shrinkage at cost and at retail.