Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021 Merchandise inventory, January 1, 2021 Cost $215,000 582,625 9,000 Retail $305,000 865,000 25,000 9,000 825,000 Purchases Freight-in Net markups Net markdowns Net sales Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided. (Round ratic calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Cost to Retail Ratio Beginning inventory Purchases Freight-in Net markups Cost Retail S 215,000 $ 305,000 582,625 865,000 9,000 25,000 1,195,000 Net markdowns Goods available for sale 806.625 Cost-to-retail percentage (9,000) 1,186,000 % Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Cost Tho Beginning inventory Purchases Freight-in Net markups S 215,000 $ 305,000 582,625 865,000 9,000 25,000 1,195,000 Net markdowns (9,000) Goods available for sale 806,625 1,186,000 Cost-to-retail percentage Net sales (825,000) Estimated ending inventory at retail $ 361,000 Estimated ending inventory at cost