Brandon Shoe Store uses the retail inventory method to estimate its monthly ending inventories. The following information is available at November 30, 2021:

At November 30, Brandon Shoe Store takes a physical inventory count at retail. The actual retail values of the inventories in each department on November 30, 2021, are as follows: Women’s Shoes $381,250, and Men’s Shoes $426,100.

Instructions

Determine the estimated cost of the ending inventory at November 30, 2021, using the retail inventory method.

Calculate the store’s loss on November 30, 2021, from theft and other causes, at retail and at cost.