The records of Alaska Company provide the following information for the year ended December 31. $ At Cost 472,050 3,780,611 $ Beginning inventory, January 1 Cost of goods purchased Sales Sales returns At Retail 927,850 6,280,050 5,502,700 45,300 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 $1,682,800. 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%)) At Cost Cost-to-Retail Ratio Beginning inventory Cost of goods purchased Cost of goods available for sale Net sales at retail 472,050 3,780,611 4,252,661 At Retail $ 927,850 6,280,050 $ 7,207,900 $ Required 1 Required 2 > Wayward Company wants to prepare interim financial statements for the first quarter. The company wishes to avoid making a physical count of inventory. Wayward's gross profit rate averages 30%. The following information for the first quarter is available from its records. Beginning inventory, January 1 Cost of goods purchased Sales Sales returns $ 450,260 1,089,050 1,341,150 10,950 Required: Use the gross profit method to estimate the company's first quarter ending inventory. Beginning inventory, Jan. 1 Net cost of goods purchased 1,089,050 1,539,310 $ Estimated March 31 inventory