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Exercise 9.14 (Algo) Conventional retail method [LO9-4] Colonial Corporation uses the retail method to value its inventory. The following information is ovaliable for the year Required: Determine ending inventory and cost of goods sold by applying the conventional retall method using the information provided Note: 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