Problem 5-9AB (Static) 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 At Cost $ 469,010 3,376,050 At Retail $ 928,950 6, 381,050 5,595,800 42,800 Required: 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 $1,686,900. Prepare a calculation showing the company's loss from shrinkage at cost and at retail Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the retail inventory method to estimate the company's year-end Inventory at cost. (Round your ratio calculations to 2 decimal places. (.e. 10.15%)) At Cost Cost-to-Retail Ratio At Retail $ Beginning inventory Cost of goods purchased 469,010 3,376,050 3,845,060 $ 928.950 6,381,050 $ 7,310,000 $ loss from shrinkage at cost and at retail Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the retail inventory method to estimate the company's year-end inventory at cost. (Round your ratio calculations to 2 decimal places. (i.e. 10.15%)) At Cost Cost-to-Retail Ratio At Retail $ Beginning inventory Cost of goods purchased 469,010 3,376,050 3,845,060 $ 928,950 6,381,050 $ 7,310,000 $ Net sales at retail Required 2 > 2. A year-end physical inventory at retail prices yields a total inventory of $1,686,900. Prepare a calculation showing the company's loss from shrinkage at cost and at retail. Complete this question by entering your answers in the tabs below. Required 1 Required 2 A year-end physical inventory at retail prices yields a total inventory of $1,686,900. Prepare a calculation showing the company's loss from shrinkage at cost and at retail. (Round your ratio calculations to 2 decimal places. (i.e. 10.15%)) ALASKA COMPANY Inventory Shortage December 31 At Cost Estimated inventory Physical inventory Inventory shortage At Retail