ACC 113 Project 1D The retail inventory method is used by The Bronx Company. Inventory, purchases, and sales data for 2016 are as follows: Cost Retail $40,000 $26,000 135,400313,800 5,000 6,000 Beginning Inventory Purchases Purchases Returns and Allowances Freight-in Net Markups Net Markdowns Net Sales 11,000 29,000 11,000 219,000 inventory method, alculate the Lower of Average-Cost or- Market of the Bronx Company's ending inventory. (Da enter your answers with commas.) Cost Retail Cost-to-Retail Ratio