The records of Nilson Company provide the following information

The records of Nilson Company provide the following information for the year ended December 31.

The records of Nilson Company provide the following information

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 $1,675,800. Prepare a calculation showing the company’s loss from shrinkage at cost and atretail.

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