Grouper Corporation began operations on January 1, 2020, with a beginning inventory of $30,532 at cost and $50,600 at retail. The following information relates to 2020. Net purchases ($108,200 at cost) Net markups Net markdowns Sales revenue Retail $149,600 10,000 4,900 128,000 (a) Assume Grouper decided to adopt the conventional retail method. Compute the ending inventory to be reported in the balance sheet. (Round ratios for computational purpose 78.796 and final answer to O decimal places, e..2007.) Ending inventory using the conventional retail method