As a result of taking a physical inventory count on December 31, 20106 the Cookie Company inventory was determined to be $425,000. The auditors for Cookie suspected an inventory shortage and used the gross profit method to estimate the ending inventory. The accounting records for the company contained the following information: 
Using the gross profit method, what did the auditors estimate as the amount of the inventory shortage at December 31, 2016?
Definitions:
Restaurant B
A hypothetical or specific dining establishment, possibly used in examples for discussion or analysis purposes.
Confidence Interval
A sequence of values, derived from examining samples, believed to possess the value of an unknown parameter within the population.
Weekly Salaries
Payments made to employees on a weekly basis for their labor or services.
Female Employees
Women who are employed by an organization or company.
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