CPA Question 10 Union Corp, uses the retail method of inventory valuation. The following information is avaiab . The following information is available: Cost $12,000 60,000 Retail $30,000 110,000 10,000 20,000 90,000 Beginning inventory Purchases Net additional markups Net additional markdowns Sales revenue If the lower of cost or market rule is disregarded, what would be the estimated cost of the ending inventory? $20,000 $19,200 $20,800 $22,000