Do not give image format The records of Alaska Company provide the following information for the year ended December 31At RetailBeginning inventory, January 1Cost of goods purchasedSalesSales returnsRequired: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 $1,691,800. Prepare a calculation showing the company'sloss from shrinkage at cost and at retailComplete this question by entering your answers in the tabs below.Beginning inventoryCost of goods purchasedRequired 1 Required 2Use the retail inventory method to estimate the company's year-end inventory at cost.Note: Round your ratio calculations to 2 decimal places. (L.e. 10.15%)Not sales at retailAt Cost$ 472,9502,843,512S$$.928,7506,280,9505,511,70046,200At Cost472.9502.843,512)3,316,462Cost-to-RetailRatioAt RetailS928,7506,280,950$ 7,209,700Prov1 of 1⠀Next 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 $1,691,800. Prepare a calculation showing the company'sloss from shrinkage at cost and at retail.Complete this question by entering your answers in the tabs below.Required 1 Required 2A year-end physical inventory at retail prices yields a total inventory of $1,691,800. Prepare a calculation showing thecompany's loss from shrinkage at cost and at retail.Note: Round your ratio calculations to 2 decimal places. (.e. 10.15%)ALASKA COMPANYInventory ShortageDecember 31Estimated inventoryPhysical inventoryInventory shortageAt CostAt Retail< Required 1

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Description: Do not give image format The records of Alaska Company provide the following information for the year ended December 31At RetailBeginning inventory, January 1Cost of goods purchasedSalesSales returnsRequired:1. Use the retail inventory method to esti

A method used in accounting to determine the worth of a store's inventory is called the retail…

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The records of Alaska Company provide the following information for the year ended December 31 At Cost $ 472,950 2,843,512 At Retail $ 928,750 6,280,950 5,511,700 46,200 Beginning inventory, January 1 Cost of goods purchased Sales Sales returns 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 $1,691,800 Prepare a calculation showing the company's loss from shrinkage at cost and at retail

The records of Alaska Company provide the following information for the year ended December 31 At Cost $ 472,950 2,843,512 At Retail $ 928,750 6,280,950 5,511,700 46,200 Beginning inventory, January 1 Cost of goods purchased Sales Sales returns 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 $1,691,800 Prepare a calculation showing the company's loss from shrinkage at cost and at retail

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 1MP: Hurst Companys beginning inventory and purchases during the fiscal year ended December 31, 20-2,...

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