The records of Macklin Co. provide the following information for the year ended December 31.

Required
1. Use the retail inventory method to estimate the company€™s year- end inventory.
2. A year- end physical inventory at retail prices yields a total inventory of $ 80,450.
Prepare a calculation showing the company€™s loss from shrinkage at cost and atretail.

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At Cost At Retail January I beginning inventory. 90,022 $115,610 502.250 761,830 782,300 3,460 Cost of goods purchased Sales Sales returns