Exercise 9-17 (Algo) Conventional and average cost retail methods; employee discounts (LO9-3, 9-4] LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March 2021: Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal breakage Net sales Employee discounts Cost Retail $ 49,000 $ 69,000 216,000 409,000 25,920 4,000 6,500 6,700 4,400 6,500 289,000 2,700 Sales are recorded net of employee discounts. Exercise 9-17 (Algo) Part 2 2. Recompute the cost-to-retail percentage using the average cost method. (Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34%).) Cost-to-retail percentage % Exercise 9-17 (Algo) Conventional and average cost retail methods; employee discounts (LO9-3, 9-4] LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March 2021: Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal breakage Net sales Employee discounts Cost Retail $ 49,000 $ 69,000 216,000 409,000 25,920 4,000 6,500 6,700 4,400 6,500 289,000 2,700 Sales are recorded net of employee discounts. Exercise 9-17 (Algo) Part 1 Required: 1. Compute estimated ending inventory and cost of goods sold for March applying the conventional retail method. (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.)