Current Attempt in Progress Novak Company began operations on January 1, 2019, adopting the conventional retail inventory system. None of the company's merchandise was marked down in 2019 and, because there was no beginning inventory, its ending inventory for 2019 of $38,700 would have been the same under either the conventional retail system or the LIFO retail system On December 31, 2020, the store management considers adopting the LIFO retail system and desires to know how the December 31, 2020, inventory would appear under both systems. All pertinent data regarding purchases, sales, markups and markdowns are shown below. There has been no change in the price level. Cost $38,700 Inventory, Jan 1, 2020 Markdowns (net) Markups Inet) Purchases (net Sales (net) Retail $59.100 13,300 21.500 175.300 170.100 129.900 N Determine the cost of the 2020 ending inventory under both (a) the conventional retail method and (b) the LIFO retall method Round ratios for computational purposes to 2 decimal place eg. 78.72% and final answers to decimal places, 23. 28.987|| la Ending inventory using conventional retail method $ $ b) Ending inventory LIFO retall method Attempts of lused SER SU