Problem 5-9AB (Algo) Retail inventory method LO P4 The records of Alaska Company provide the following information for the year ended December 31. Beginning inventory, January 1 Cost of goods purchased Sales Sales returns Required: At Cost $472,350 3,996,920 At Retail $928,150 6,280,350 5,505,700 45,600 1. Use the retail inventory method to estimate the company's year-end inventory at cost. 2. A year-end physical inventory at retail prices yields a total inventory of $1,685,800. Prepare a calculation showing the compan loss from shrinkage at cost and at retail. Use the retail inventory method to estimate the company's year-end inventory at cost. Note: Round your ratio calculations to 2 decimal places. (i.e. 10.15%) At Cost Cost-to-Retail Ratio At Retail Beginning inventory $ 472,350 $ 928,150 Cost of goods purchased 3,996,920 6,280,350 $ 4,469,270 $ 7,208,500 Net sales at retail Required 1 Required 2 > Note: Round your ratio calculations to 2 decimal places. (i.e. 10.15%) ALASKA COMPANY Inventory Shortage December 31 Estimated inventory Physical inventory Inventory shortage At Cost At Retail < Required 1 Required 2