A firm pays $92 for a car seat and wants a 22% markup for operating expense as well as an 8% markup for profit. However, customers think the car seats are ugly, so they are not selling. Management reduces the price of each car seat by $30 to get rid of them. Find (a) the selling price, (b) the reduced price, (c) the percent of markdown, and (d) any operating or absolute loss. Find the inventory value using the weighted average method, the FIFO method, and the LIFO method Purchases Beginning inventory: 25 units at $8 June: 17 units at $9 August: 15 units at $10 Now in inventory: 20 units