2. The e following information pertains to H&M Cost Retail Beginning inventory Purchases 200,000 1,475,000 1,400 280,000 2,140,000 Freight on purchases Markups 95,000 15,000 35,000 5,000 Markup cancellations Markdowns Markdown cancellations 2,000,000 Sales Revenue Required: Measure ending inventory using the conventional retail inventory method