Exercise 9-14 (Algo) Conventional retail method [LO9-4] Colonial Corporation uses the retail method to value its inventory. The following information is avallable for the year: Required: Determine ending inventory and cost of goods sold by applying the conventional retail method using the information provided. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign