Exercise 9-20 Presented below is information related to Ayayai Company. Cost Retail Beginning inventory $ 54,050 $103,100 Purchases (net) 115,680 196,600 Net markups 10,547 Net markdowns 23,798 Sales revenue 202,850 Compute the ending inventory at retail. Ending inventory $ Link to Text Compute a cost-to-retail percentage under the following conditions. (Round ratios to 2 decimal places, e.g. 78.74%) Cost-to-retail percentage (1) Excluding both markups and markdowns. % (2) Excluding markups but including markdowns. % (3) Excluding markdowns but including markups. % (4) Including both markdowns and markups. % Link to Text Which of the methods in (b) above does the following? (1) Provides the most conservative estimate of ending inventory. (2) Provides an approximation of lower-of-cost-or-market. (3) Is used in the conventional retail method. Link to Text Compute ending inventory at lower-of-cost-or-market. (Round ratio to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.) Ending inventory $ Link to Text Compute cost of goods sold based on (d). (Round answer to 0 decimal places, e.g. 6,225.) Cost of goods sold $ Link to Text Compute gross margin based on (d). (Round answer to 0 decimal places, e.g. 6,225.) Gross margin $