Question: Assume that in addition to estimating its ending inventory by the retail method, Harmony Co. of Exercise 6-10 also took a physical inventory at the

Assume that in addition to estimating its ending inventory by the retail method, Harmony Co. of Exercise 6-10 also took a physical inventory at the marked selling prices of the inventory items at the end of 2014. Assume further that the total of this physical inventory at marked selling prices was $109,200.
a. Determine the amount of this inventory at cost.
b. Determine Harmony's 2014 inventory shrinkage from breakage, theft, or other causes at retail and at cost.
Round all calculations to two decimal places,

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