The records of Earthly Goods provided the following information for the year ended December 31, 2020. 7 January 1 beginning inventory Purchases Purchase returns Sales Sales returns At Cost At Retail 5466,358 5922,150 3,184,299 6,393,700 51,800 118, 358 5,485,700 44,100 Required: 1. Prepare an estimate of the company's year-end inventory by the retail method. (Round all calculations to two decimal places.) EARTHLY GOODS Estimated Inventory December 31, 2020 At Cost At Retail Goods available for sale Goods available for sale Cost to retail ratio Estimated ending inventory at cost 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 store's loss from theft or other causes at cost and at retail. EARTHLY GOODS Inventory Shortage December 31, 2020 At Cost Estimated inventory, December 31 Physical inventory Inventory shortage At Retail