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 2018: Inventory, October 1, 2018: At cost At retail Purchases (exclusive of freight and returns): $13,000 23, 000 At cost At retail 91,892 139,500 ,400 Treight-in Purchase returns: At cost At retail 1,400 2,100 1,800 200 730 Additional markups Markup cancellations Markdowns (net) Normal spoilage and breakage Sales 3, 800 128,730 Required: 1. Using the conventional retail method, prepare a schedule computing estimated lower of cost or market (LCM) inventory for October 31, 2018. (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.) Required: 1. Using g the conventional retail method, prepare a schedule computing estimated lower of cost or market (LCM) inventory for October 8. (Round your cost-to-retail percentage to 2 decimal places (i.e., 0.1234 should be entered as 12.34) and round your final 31, 201 answers to the nearest whole dollar.) 26 Retail Cost Beginning inventory Cost-to-retail percentage Goods available for sale Estimated ending inventory at retail Estimated ending inventory at cost