ACC 113 Project 1D The retail inventory method is used by The Bronx Company. Inventory, purchases, and sales data for 2016 are as follows: Beginning Inventory Purchases Purchases Returns and Allowances6,0007,000 Freight-in Net Markups $27,000 $26,000 136,000 292,000 10,000 23,000 12,000 229,000 Net Sales Using the retail inventory method, calculate the Lower-of-Average-Cost-or-Market of the Bronx Company's ending inventory. (Do not use dollar sig To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Cost Cost-to-Retail Ratio1 to search Hee I System Announcerm oject Study Cost-to-Retail Ratio Ending Inventory at Average Lower of Cost or Market Note 1: Before completing this section, prepare the detailed Cost-to-Retail Ratio calculation in the following section. Add your fina Note 2: Before complting this section, prepare the detailed Ending Inventory (at Retail) calculation in the following section. Add Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work here to search for Bronx Community College Cost-to-Retail Ratio. (Round answers to 2 decimal places, e.g. 52.75. Do not use dollar signs (5) when entering amounts. To see comma must enter your answers with commas.) 100 Before moving onto the next section, please do the following (for screen belp, click on the byperlinks below); 1. Scroll to the end of the page and click on the Save for Later button to save your work page. Doing this will open your saved answers in a new window to help you complete the next section. you are each time you have finished a sectian. Do not click on the "Subnit Ansners" button until you have completed all of the sectioms LNKTO TEXT (Round ansivers to 2 decimal places, e.g. 52.75 Do not use dollar signs (5) when entering anounts. To see comma-formatted numbers reflected in your final answers, you aust enter your Ending Inventory at Average Lower of Cost or Market2 e to search I places, e.g. 52.75. Do not use dollar signs (5) when page. Doing this will open your saved answers in a new window to help you complete the next section have finished a section. Do not click on the Submit Aosc LINK TO TEXT