5 Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2018: Cost Retail Merchandise inventory, January 1, 2018 $360,000 $297,000 Purchases 663,000 976,000 Freight-in 25,000 Net markups 37,000 Net markdowns 5,700 Net sales 970,000 15 points eBook Required: Determine the December 31, 2018, inventory by applying the conventional retail method. Print Cost Retail Cost-to-Retail Ratio References Beginning inventory Plus: Purchases Freighton Net markups 0 Less: Not markdowns Goods available for sale 0 O Cost to-retal percentage Less: Not sales Estimated ending inventory at retail Estimated ending inventory at cost