Brief Exercise 9-12 Sheffield Inc. had beginning inventory of $12,040 at cost and $21,500 at retail. Net purchases were $120,965 at cost and $184,000 at retail. Net markups were $9,600, net markdowns were $7,500, and sales revenue was $155,000. Compute ending inventory at cost using the LIFO retail method. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answer to o decimal places, e.g. 28,987.) Ending inventory using LIFO retail method $