1- Saved to my Mac Mailings Review View vv AL AaBbCc AaBbCeDdE AaBbCcDdEe AaBbCel Heading 1 Heading 2 Normal Title improvements, choose Check for Updates. Problem 1 Steelers Retailers, Inc. (the Company) is in its second year of operations. The Company uses the retail inventory method to estimate ending inventory and cost of goods sold. The following data has been summan for 2020 (all amounts in S): Cost Retail January 1 Inventory 208.800 360,000 Purchases 2,112,000 4,062,500 Freight-in 32,760 Purchase Retums 46,560 91,000 Net Mackups 29,480 Net Markdowns 98,600 Abnormal Spoilage 12,200 26,500 Shrinkage (Normal) 8,360 Sales 4,084,500 Sales Returns 81,680 Employee Sales 13,500 *Employee Sales are recorded at the net selling price. Employees receive a 10% discount Required: Estimate ending inventory and cost of goods sold using the Average Cost Method. Use space for work. Place answers in the blanks below. I Est. Ending Inventory (@retail): Cost-to-retail Percentage: Est. Ending Inventory (@cost): Est. Cost of Goods Sold (@cost): Required: Estimate ending Inventory and cost of goods sold using the LIFO Retail Method. Use space for work. Place answers in the blanks below. Est. Ending Inventory (retail) Cost-to-retail Percentage: Est. Ending laventory (@cost): Est. Cost of Goods Sold (@cost): Focus 000 59 F4 F5 F6 F8 F7 &