DLL LLL. LULU S This homework assignment accounts for five points. No point will be given if the assignment is past due or incomplete, no work provided answers are not specified, or most of work is incorrect. Points will be deducted for errors in your work/answer Based on the following information (in scrambled order),compute the ending inventory at cost using: (1) the conventional retail method and (2) the cost retail method. You should round the cost-to-retail ratios to four decimal places, e.g. 0.345678-0.3457 or 34.57%. In your final answer, separately indicate (a) ending invetory at retail, (b) cost-to-retail ratio, and (c) ending invetory at cost. Summarize your answers on the bottom of page At cost $10,600 37,560 Inventory. Beginning Mark-ups Purchases Markdowns cancellations Markup cancellations Freight-in Sales Normal damage Markdowns At retail $14,000 5,600 80,000 1200 800 1,000 64,600 6,300 7.400 Answer: (You must provide your work to support your answers) Method (a) Ending inventory at retail b) Cost-to-retail ratio (C) Ending inventory at cost (0) Conventional retail (2) Cost retail