Problem 6-9AB (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 At Cost $ 473,250 2,627,179 At Retail Sales returns $ 929,050 6,281,250 5,514,700 46,500 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 $1,694,800. 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. (i.e. 10.15%)) At Cost Cost-to-Retail Ratio Beginning inventory $ Cost of goods purchased 473,250 2,627,179 $ 3,100,429 Net sales at retail At Retail $ 929,050 6,281,250 $ 7,210,300 < Required 1 Required 2 >