5. The Brad's Farm Company uses the retail inventory method to compute ending inventory. Information for last year is as follows: Cost Retail $12,000 $20,000 8,000 80,000 Beginning inventory Net markups Purchases Freight-in Purchase returns Sales Net markdowns 40,000 7,100 3,000 6,000 50,000 4,000 Required: Determine Brad's Farm Company's ending inventory based on the retail lower of average cost or market method