Exercise 9-20 Presented below is information related to Stellar Company. Cost Beginning inventory Purchases (net) Net markups Net markdowns Sales revenue s 56,190$97,100 198,500 10,589 24,302 195,610 133,480 Compute the ending inventory at retail Ending inventory 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. 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. 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, eg, 6,225.) Ending inventorys Compute ending inventory at lower-of-cost or market. (Round ratio to 2 decimal places, e 9-78.74% and fi a answer to 0 decima, paces, eg 5,225. Ending inventory Compute cost of goods sold based on (d). (Round answer to o decimal places, e.g. 6,225.) Cost of goods sold s Compute gross margin based on (d). (Round answer to O decimal places, e.g. 6,225.) Gross margins Click if you would like to Show Work for this question: Open Show Work