3. Retail Inventory Methods Tiburon Inc. had 2016 beginning inventory with a cost of $45,141 and a retail value of $61,120. During 2016, the company purchased goods with a cost of $365,000 and a retail value of $523,200, made mark-ups and mark-downs of $14,400 and $55,600 (respectively) to its inventories, and had sales of $472,229. a. Calculate Tiburon's 2016 ending inventory at cost using the Conventional Retail method. Round any cost-to-retail ratios to two decimal places. b. Calculate Tiburon's 2016 ending inventory at cost using the LIFO Retail method. Round any cost-to-retail ratios to two decimal places