The records of macklin co provide the following information

Question

The records of Macklin Co. provide the following information for the year ended December 31.

Required: 

1. Use the retail inventory method to estimate the company's year end inventory. 

2. A year end physical inventory at retail prices yields a total inventory of $ 80,450. 

Prepare a calculation showing the company's loss from shrinkage at cost and atretail.