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

	At Cost			At Retail
January 1 beginning inventory	$	491,350		$	947,150
Purchases		3,693,675			6,418,700
Purchase returns		56,800			123,350
Sales					5,535,700
Sales returns					46,600

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 $1,679,800, prepare a schedule showing the stores loss from theft or other causes at cost and at retail.