Problem 6-9AB Retail inventory method LO P4 The records of Alaska Company provide the following information for the year ended December 31. At Cost At Retail January 1 beginning inventory $ 472,050 $ 927,850 Cost of goods purchased 3,780,611 6,280,050 Sales 5,502,700 Sales returns 45,300 Required: 1. Use the retail inventory method to estimate the companys year-end inventory at cost. 2. A year-end physical inventory at retail prices yields a total inventory of $1,682,800. Prepare a calculation showing the companys loss from shrinkage at cost and at retail. Use the retail inventory method to estimate the companys 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 Cost of goods available for sale Net sales at retail Sales