Exercise 9-20 Presented below is information related to Cheyenne Company Cost Retail 54,010 $107,900 29,230 193,500 10,281 26,700 174,520 Beginning inventory Purchases (net) Net markups Net markdowns Sales revenue 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, eg. 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 TEX Which of the methods in (b) above does the flowing? (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, eg, 78.74% and final answer to 0 decimal places, eg. 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 O decimal places, e.g. 6,225 Gross margin Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT