The records of Earthly Goods provided the following information for the year ended December 31, 2020. At Cost At Retail January 1 beginning inventory Purchases Purchase returns Sales Sales returns $ 491,350 $ 947,150 3,693,675 56,800 6,418,700 123,350 5,535,700 46,600 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 Retail At Cost Goods available for sale: Goods available for sale 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 store's loss from theft or other causes at cost and at retail. EARTHLY GOODS Inventory Shortage December 31, 2020 At Cost At Retail Estimated inventory, December 31 Physical inventory Inventory shortage