E9.22 (LO 5) (Retail Inventory Method) The records of Ellen's Boutique report the following data for the month of April. Sales revenue $99,000 Sales returns 2,000 Purchases (at cost) Purchases (at sales price) $48,000 88,000 Markups 10,000 Purchase returns (at cost) 2,000 Markup cancellations 1,500 Purchase returns (at sales price) 3,000 Markdowns 9,300 Markdown cancellations 2,800 Beginning inventory (at cost) Beginning inventory (at sales price) 30,000 46,500 Freight on purchases 2,400 Instructions Compute the ending inventory by the conventional retail inventory method.