Grand Department Store, Inc., uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of October 2021: $ 19,000 29,000 97,016 145,500 5,000 Inventory, October 1, 2021: At cost At retail Purchases (exclusive of freight and returns): At cost At retail Freight-in Purchase returns: At cost At retail Additional markups Markup cancellations Markdowns (net) Normal spoilage and breakage Sales Sales returns 2,000 2,700 2,400 200 790 4,400 138,750 4,020 Required: 1. Using the conventional retail method, prepare a schedule computing estimated lower of cost or market (LCM) inventory for October 31, 2021. (Round your cost-to-retail percentage to 2 decimal places (i.e., 0.1234 should be entered as 12.34) and round your final answers to the nearest whole dollar.) Cost Retail Cost-to-Retail Ratio Beginning inventory Goods available for sale (excluding net markdowns) Cost-to-retail percentage Goods available for sale (including net markdowns) 0 Estimated ending inventory at retail Estimated ending inventory at cost