As of January 1, 2017, Waterway Inc. adopted the retail method of accounting for its merchandise inventory. To prepare the stores financial statements at June 30, 2017, you obtain the following data. Cost Selling Price Inventory, January 1 $33,000 $42,800 Markdowns 9,800 Markups 9,800 Markdown cancellations 6,000 Markup cancellations 3,200 Purchases 96,328 152,400 Sales revenue 151,900 Purchase returns 2,800 4,100 Sales returns and allowances 7,700 Compute Waterways June 30, 2017, inventory under the conventional retail method of accounting for inventories. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Inventory under the conventional retail method Without prejudice to your solution to part (a), assume that you computed the June 30, 2017, inventory to be $60,480 at retail and the ratio of cost to retail to be 77.10%. The general price level has increased from 100 at January 1, 2017, to 108 at June 30, 2017. Compute the June 30, 2017, inventory at the June 30 price level under the dollar-value LIFO retail method. (Round ratios for computational purposes to 2 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory at dollar-value LIFO cost $