Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2018 Cost Retail Merchandise inventory, January 1, 2018 Purchases Freight-in Net markups Net markdowns Net sales $250,000 $286,000 672,000 888,000 14,000 26,000 4,500 860,000 Required Determine the December 31, 2018, inventory by applying the conventional retail method 0- Ratio Cost Retail Beginning inventory Plus: Purchases Freight-in Net markups Less: Net markdowns Goods available for sale Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost