Ch 11 Required information {The following information applies to the questions displayed below.) Part 1 of 2 8.33 polnts Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2021, the records indicate the following data: (sin 0003) Cost Retail Beginning inventory S 90 $ 135 Purchases 681 1, 016 Freight-in on purchases 90 Purchase returns 2 3 Net markups Net markdown:3 Net sales 926 NOPO eBook Print 5 9 References Required: 1. Use the retail method to approximate cost of ending inventory valued under Average cost method. (Enter your answer in thousands including 2 decimal places, i.e. 12,550 would be 12.55.) Ending inventory ($ in 000s) Average cost