2.

Metlock Inc. had beginning inventory of $12,400 at cost and $21,700 at retail. Net purchases were $112,040 at cost and $175,900 at retail. Net markups were $9,800, net markdowns were $7,700, and sales revenue was $135,100. Compute ending inventory at cost using the conventional retail method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using the conventional retail method $