Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2018 Cost $360,000 663,000 25,000 Retail $297, 000 976,000 Merchandise inventory, January 1, 2018 Purchases Freight-in Net markups Net markdowns Net sales 37.000 5,700 970,000 Required: Determine the December 31, 2018, Inventory by applying the conventional retail method. Cost Retail Cost-to-Retail Ratio Beginning inventory Plus: Purchases Freight-in Net markups 0 Less: Not markdowns Goods available for sale 0 0 Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending Inventory at cost