Quigley Company's records indicate the following information for the year: 
On December 31, a physical inventory determined that ending inventory of ₤720,000 was in the warehouse. Quigley's gross profit on sales has remained constant at 30%. Quigley suspects some of the inventory may have been taken by some new employees. At December 31, what is the estimated cost of missing inventory?
Definitions:
Maximizing Sales
Strategies and efforts aimed at increasing the volume of products sold, thereby boosting revenue.
Market Segments
Groups of potential customers with similar needs, desires, and characteristics that a company targets with specific products or marketing campaigns.
Segmenting
The process of dividing a larger market into smaller groups or segments with similar needs, characteristics, or behavior, to target marketing efforts more effectively.
Repositioning
The process of changing the market's perception of a product or brand over time to target a new segment or market.
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