Instructions: Based on the following information (in scrambled order), compute the ending inventory at cost using: (1) the conventional retail method and (2) the cost retail method. You should round the cost-to- retail ratio to the 4th decimal places, e.g. 0.345678-0.3457 or 34.57%. Inappropriate rounding may be considered as an error. At cost $6,400 At retail $28,000 800 3,600 Inventory, Beginning Markup cancellations Freight-in Markdowns cancellations Mark-ups Sales Markdowns Purchases Normal damage 1600 4,700 118,600 6,300 112,350 2,700 53,810 Answer: (You should also provide your work to support your answers) (a) Ending inventory at retail Method (b) Cost-to-retail ratio (c) Ending inventory at cost (1) Conventional retail (2) Cost retail