The following data relates to Khairan stores for the month of December 2020. Cost 62,000 280,000 20,000 6,000 Beginning inventory (Dec 1) Purchases Freight in Purchase returns Additional markup Markup cancelations Markdowns (net) Normal spoilage and breakage Sales Required: Prepare a schedule computing the retail inventory using the conventional method Retail 82,000 360,000 8,000 11,000 3000 4,000 12,000 320,000