Exercise 9-14 (Algo) Conventional retall method [LO9-3] Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021 Merchandise Inventory, January 1, 2021 Purchase Freight-in Met markups Not markdowns Niet sales COST 1220,00 614,578 9,200 Retail $310.00 70,000 26. 10.000 8.30, Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided (Round ratio calculation to 2 decimal places (.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Cout Retail Cost to Retail Ratio $ 220,000 5 014 578 310.000 870.000 Beginning inventory Purchases Freight-in Net markus Tences 0.200 20.000 1.200.000 (10.000) 1.100.000 Net markdowns Goods available for sale 843 778 Cost-to-cetail percentage Net sales Estimated ending inventory at retail Estimated ending inventory at cost (830.000) 380,000 $