\begin{tabular}{|l|r|} \hline Beginning Inventory & 120,000 \\ \hline Add: Purchase (net) & 305,000 \\ \hline Add: Net Markups & 39,000 \\ \hline Totals & 464,000 \\ \hline Less: Net markdowns & 20,000 \\ \hline Sales price of goods available & 444,000 \\ \hline Less: Sales Revenue & 320,000 \\ \hline Ending Inventory & 124,000 \\ \hline \end{tabular} b) Compute a cost-to-retail percentage unider the following conditions. \begin{tabular}{|l|r|} \hline & Cost to-retail percentage \\ \hline 1) Excluding both markups and markdowns & 56.71% \\ \hline 2) Excluding markups but including markdowns & 59.51% \\ \hline 3) Excluding markdowns but including markups & 51.94% \\ \hline 4) Including both markdowns and markups & 54.28% \\ \hline \end{tabular} c) Which of the methods in (b) above does the following? Options: -A- Excluding Both Markups and Markdowns - B- Excluding Markdowns but Including Markups -C- Excluding Markups but Including Markdowns -D- Including Both Mardowns and Markups 1) Provides the most conservative estimate of ending inventory 2) Provides an approximation of lower-of-cost-or-market. 3) Is used in the conventional retail method