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Pet Emporium had a robbery on the weekend in which a large amount of inventory was taken. The loss is covered completely by insurance. A physical inventory count determined that the cost of the remaining merchandise is $58,100. The following additional information is available:
 

Required:
1. Prepare an estimate of ending merchandise inventory using the retail method.

2. Calculate the cost of the stolen inventory.

Sporting Pro wants to prepare interim financial statements for the first quarter of 2023 but would like to avoid making a physical count of inventory. During the last five years, the company’s gross profit rate has averaged 25%. The following information for the year’s first quarter is available from its records:
 

Required:
Use the gross profit method to prepare an estimate of the company’s March 31 inventory.