1 Birch Company began operations on 1/1/23. At 12/31/23, the following data were available: 9 10 11 12 13 14 15 16 Inventory, 1/1/23 Markdowns Markups Markdown cancellations Markup cancellations Purchases Sales Purchase returns Sales returns Employee discounts At Cost 223,500 At Retail 328,500 105,000 126,000 60,000 30,000 779,400 1,062,000 1,012,500 12,000 16,500 30,000 6,500 17 Compute the ending inventory at cost at 12/31/23 using the conventional retail inventory method. Your solution should be 18 in good form with amounts clearly labeled. 19 20 What adjustment will Birch need to make to apply the LCOM rule to its ending inventory for balance sheet presentation? 21 22 23