Exercise 9-20 Presented below is information related to Sweet Company Cost Retail Beginning inventory Purchases (net) Net markups Net markdowns Sales revenue 54,010 $107,900 193,500 10,281 26,700 174,520 129,230 Compute the ending inventory at retail Ending inventorys 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 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