The records of Earthly Goods provided the following information for the year ended December 31, 2020.

	At Cost			At Retail
January 1 beginning inventory	$	466,350		$	922,150
Purchases		3,184,200			6,393,700
Purchase returns		51,800			118,350
Sales					5,485,700
Sales returns					44,100

Required: 1. Prepare an estimate of the companys year-end inventory by the retail method. (Round all calculations to two decimal places.)

2 Under the assumption the company took a year-end physical inventory at marked selling prices that totalled $1,674,800, prepare a schedule showing the stores loss from theft or other causes at cost and at retail.