a) Calculate the ending inventory using the retail inventory method

b) calculate estimated loss due to shrinkage and theft

Exercise 8-26 The records of Blue Spruce Menswear report the following data for the month of September: Sales $118,200 Purchases (at cost) $65,200 Sales returns 3,000 Purchases (at sales price) 114,000 Additional markups 11,000 Purchase returns (at cost) 3,000 Markup cancellations 2,100 Purchase returns (at sales price) 3,500 Markdowns 10,300 Beginning inventory (at cost) 34,200 Markdown cancellations 3,700 Beginning inventory (at sales price) 48,800 Freight on purchases 4,300 Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to 0 decimal places, e.g. 5,275.) Ending inventory, at retail Ending inventory, at cost $ LINK TO TEXT Assuming that a physical count of the inventory determined that the actual ending inventory at retail prices at the end of September was $41,300, estimate the loss due to shrinkage and theft. (Round intermediate calculations to 2 decimal places, e.g. 15.21% and the final answer to 0 decimal places, e.g. 5,275.) Estimated loss due to shrinkage and theft $