Check my Work Grand Department Store, Inc., uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of October 2021 $ 11,000 21,000 96,284 137,500 4,200 Inventory, October 1, 2021: At cost At retail Purchases (exclusive of freight and returns): At cost At retail Freight-in Purchase returns: At cost At retail Additional markups Markup cancellations Markdowns (net) Normal spoilage and breakage Sales Sales returns 1,200 1,900 1,600 200 710 3,600 132,550 5,820 Required: Required: 1. Using the conventional retail method, prepare a schedule computing estimated lower of cost or market (LCM) inventory for October 31, 2021. (Round your cost-to-retail percentage to 2 decimal places (i.e., 0.1234 should be entered as 12.34) and round your final answers to the nearest whole dollar.) Cost Retail Cost-to-Retail Ratio Beginning inventory Goods available for sale (excluding net markdowns) Cost-to-retail percentage Goods available for sale (including net markdowns) Estimated ending inventory at retail Estimated ending inventory at cost