17 Part 1 of 2 Required Information Exercise 9-17 (Algo) Conventional and average cost retail methods; employee discounts [L09-3, 9-4) LeMay Department Store uses the retail Inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March 2021 04 point eBook Beginning inventory Purchases Freight-in Purchase returns Net warkups Net sarkdowns Normal breakage Net sales Employee discounts Cost Retail $44.000 $ 64,000 211,000 44,000 21,396 6.00 8. Bee 6.200 1,200 8. 284, 2,200 Sales are recorded net of employee discounts References Exercise 9-17 (Algo) Part 1 informaton Part 1 of 2 Required: 1. Compute estimated ending Inventory and cost of goods sold for March applying the conventional retail method. (Round ratio calculation to 2 decimal places (l.e., 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) 4 Cost Retail Cost-to-Reta Ratio $ $ 04.000 404,000 Beginning inventory Purchases Freight-in Purchase returns Net markups 44.000 211,000 21.300 10.000) eBook (8.000) 6.200 468,200 (3.000) 462,300 Hint Net markdowns Goods available for sale 270,206 Print Cost-to-retail percentage conventional retail method References Normal breakage Net sales: Sales Employee discounts Estimated ending inventory at retail Estimated ending inventory at Estimated cost of goods sold (294.000 (2 200) 178,100 3 Exercise 9-17 (Algo) Part 2 2. Recompute the cost-to-retail percentage using the average cost method. (Round your percentage answer to 2 decimal places (le 0.1234 should be entered as 12.34%).) Castoral pertamage