A company uses the Retail Inventory Method. The company's purchases department has provided you with the following selected account balances: Beginning inventory: COST: $50,000 RETAIL: $67,000 Purchases: COST: $100,000 RETAIL: $148,000 In addition, you know the following information: . The balance of the "Purchases discounts account is $9.000 on 12/31 (the company uses the gross method). Freight-in expenses for the year were $15,000 The balance of the "Sales Revenue" account on 12/31 was $200,000 the balance of the "Sales Returns" account on 12/31 was $6,000 Finally, the sales department has given you the following information about price adjustments occurred during the year: Markups: $17,000 company uses the gross method). Freight-in expenses for the year were $15,000 The balance of the "Sales Revenue" account on 12/31 was $200,000 the balance of the "Sales Returns" account on 12/31 was $6,000 Finally, the sales department has given you the following information about price adjustments occurred during the year: Markups: $17,000 Markdowns: none Markups and markdown cancellations: none Which of the following is (approximately) the value of inventory with the conventional method? A company uses the Retail Inventory Method. The company's purchases department has provided you with the following selected account balances: Beginning inventory: COST: $50,000 RETAIL: $67,000 Purchases: COST: $100,000 RETAIL: $148,000 In addition, you know the following information: . The balance of the "Purchases discounts account is $9.000 on 12/31 (the company uses the gross method). Freight-in expenses for the year were $15,000 The balance of the "Sales Revenue" account on 12/31 was $200,000 the balance of the "Sales Returns" account on 12/31 was $6,000 Finally, the sales department has given you the following information about price adjustments occurred during the year: Markups: $17,000 company uses the gross method). Freight-in expenses for the year were $15,000 The balance of the "Sales Revenue" account on 12/31 was $200,000 the balance of the "Sales Returns" account on 12/31 was $6,000 Finally, the sales department has given you the following information about price adjustments occurred during the year: Markups: $17,000 Markdowns: none Markups and markdown cancellations: none Which of the following is (approximately) the value of inventory with the conventional method