2. The EKC Company uses the retail inventory method. The following information relates to the current year: Cost Retail Beginning inventory 100,000 180,000 Purchases 320,000 600,000 ice one Purchase discounts taken 6,000 Freight-in 16,000 Additional markup 60,000 Markup cancellations 12,000 Markdowns 15,000 Markdown cancellations. 4,000 Sales 630,000 Sales returns 30,000 10,000 Sales discounts Compute the ending inventory using the conventional (lower of average cost or market) retail method.