Blue Corporation began operations on January 1, 2017, with a beginning inventory of $18,300 at cost and $51,000 at retail. The following information relates to 2017. Net purchases ($110,100 at cost) Net markups Net markdowns Sales rcvcnuc Retail $152,B00 10,200 5,000 125,000 Your answer is correct. Assume Blue decided to adopt the conventional retail method Compute the ending inventory to be reported in the balance sheet Round roti s or computationa pu poses o 1 dec na p ace, eg 7 7 andma answer to Ode na p oces, e 2 987] Ending inventory using the conventional retall method 50400 Your answer is incorrect Assume Instead that Blue decides to adapt the dollar-value LIFO retall method. The appropriate price indexes are 100 at January 1 and 110 at December 31. Compute the ending inventory to be reported in the balancesheet. (Round ratios for computational purposes to 2 decimal places, eg 78.72% and final answer to 0 decimal places, eg. 28987) Ending inventory using the dollar-value LIFO retail method Your answer is Incorrect On the basis of the information in part b compute co tof goods sold. (Round at as or computational pu poses to 2 de ir al places, eg. 78.72% and final ans er to 0 decimal places, e 28 987 Cost of goods sold using the dollar valuc LIFO retail mcthod $