7.

Presented below is information related to Blossom Company. Compute the ending inventory at retail. Ending inventory $ eTextbook and Media Compute a cost-to-retail percentage under the following conditions. (Round ratios to 2 decimal places, e.g. 78.74\%) eTextbook and Media Which of the methods in (b) above does the following? (1) Provides the most conservative estimate of ending inventory. (2) Provides an approximation of lower-of-cost-or-market. (3) Is used in the conventional retail method. Compute ending inventory at lower-of-cost-or-market. (Round ratio to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.) Ending inventory $ eTextbook and Media Compute cost of goods sold based on (d). (Round answer to 0 decimal places, e.g. 6,225.) Cost of goods sold $ eTextbook and Media Compute gross margin based on (d). (Round answer to 0 decimal places, e.g. 6,225.) Gross margin