Exercise 9-21 Presented below is information related to Sheridan Company. Cost Retail Beginning inventory $307,645 $285,000 Purchases 1,397,000 2,106,000 Markups 95,200 Markup cancellations 15,700 Markdowns 33,500 Markdown cancellations 4,800 Sales revenue 2,240,000 Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $