Answer:
$75,485
Step-by-step explanation:
The computation of the estimated inventory loss is shown below:
Goods lost = Cost of Goods available for sale - Cost of Goods Sold
where,
Cost of Goods available for sale = Inventory + Purchases
= $171,000 + 196,000
= $367,000
And,
Cost of Goods Sold is
= $481,000 รท 165%
= $291,515
So, the estimated inventory loss is
= $367,000 - $291,515
= $75,485