Based on the following information (in scrambled order), compute the ending inventory at cost using: (1) the conventional retail method and (2) the cost retail method. You should round the cost-to-retail ratios to four decimal places, e.g. 0.345678~0.3457 or 34.57%. In your final answers, separately indicate (a) ending inventory at retail, (b) cost-to-retail ratio, and (c) ending inventory at cost. Summarize your answers on the bottom of page.

	At cost	At retail
Inventory, Beginning	$ 12,500	$ 23,000
Markup cancellations		800
Markdowns		9,500
Markdowns cancellations		1200
Freight-in	2,600
Normal damage		3,200
Sales		53,400
Purchases	38,720	82,350
Mark-ups		4,600

Answer: (You should also provide your work to support your answers)

Method	(a) Ending inventory at retail	(b) Cost-to-retail ratio	(c) Ending inventory at cost
(1) Conventional retail
(2) Cost retail