C10 Homework Navigation 2 3 4 56 7 89 Finish attempt... Question 6 Incorrect Mark 0.00 out of 5.00 Flag question Estimating Inventory Using Retail Inventory Method-Conventional Outlet Store applies the conventional retail inventory method. Information relating to the computation of inventory for 2020 follows. Estimated normal spoilage is 2% of sales. At Cost At Retail Beginning inventory Sales Purchases $40,000 $80,000 600,000 300,000 590,000 Freight-in Markups Markup cancellations Markdowns Markdown cancellations 8,000 60,000 20,000 25,000 5,000 Calculate estimated ending inventory for 2020 using the conventional retail method. Carry all decimals in calculations; round the final answer to the nearest dollar. Ending inventory $ 13,200 Check Incorrect Marks for this submission: 0.00/5.00. < Previous Save Answers