Headland Company began operations late in 2019 and adopted the conventional retail inventory method. Because there was no beginning inventory for 2019 and no markdowns during 2019, the ending inventory for 2019 was $13.654 under both the conventional retail method and the LIFO retail method. At the end of 2020, management wants to compare the results of applying the conventional and LIFO retail methods. Therewas no change in the price level during 2020. The following data are available for computations Cost Retall $13.654 $18,600 Inventory, January 1, 2020 Sales revenue 76,000 8.700 Net markups Net markdowns 1,800 Purchases 62,900 75.400 471 Freight-in Estimated theft 2.100 Compute the cost of the 2020 ending inventory under both (a) The conventional retall method. (Round ratios for computational purposes to decimat places, es, 79% and final answer to O decimal places es 28,987) Endine inventory usine the conventional retal method 5 {bi The LiForetall method, Round ratios for computational purposes to decimal places es 78% and final answers to decimal places as 28 9873 Ending inventorvat cost Endine inventory retail