The records of Earthly Goods provided the following information for the year ended December 31, 2020. Required: 1. Prepa

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The records of Earthly Goods provided the following information
for the year ended December 31, 2020.
Required:
1. Prepare an estimate of the company’s year-end
inventory by the retail method. (Round all
calculations to two decimal places.)
2. Under the assumption the company took a
year-end physical inventory at marked selling prices that totalled
$1,679,800, prepare a schedule showing the store’s loss from theft
or other causes at cost and at retail.