As of January 1, 2020, Sarasota Inc. adopted the retail method of accounting for its merchandise inventory. To prepare the store's financial statements at June 30, 2020, you obtain the following data. Cost $28,100 Inventory, January 1 Markdowns Markups Markdown cancellations Markup cancellations Purchases Sales revenue Purchase returns Sales returns and allowances Selling Price $43,500 11,000 9.200 6,000 3,000 153,800 154,200 3.900 7,500 94.560 2.900 (a) Compute Sarasota's June 30, 2020, inventory under the conventional retail method of accounting for inventories. (Round ratios for computational purposes to decimal places, eg. 78% and final answer to decimal places, e.g. 28,987.) Inventory under the conventional retail method