Line Tolowing information appies to the questions displayed below.) Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2021, the records indicate the following data: Beginning inventory Purchases Freight-in on purchases a Purchase returns Net markups Net markdowns. Net sales ($ in 0005) Cost Retail $ 85 $ 130 676 35 1,011 1 2 3 7 921 Required: 1. Use the retail method to approximate cost of ending inventory valued under Average cost method. (Enter your answer in thousands including 2 decimal places, i.e. 12,550 would be 12.55.) Average cost Ending inventory (S in 000s) Prev 5 6 of 7 Next > Required information [The following information applies to the questions displayed below.] Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2021, the records indicate the following data: Beginning inventory Purchases Freight-in on purchases Purchase returns 26 Net markups Net markdowns Net sales ($ in 000s) Cost Retail $85 $130 35 676 1,011 4 1 2 3 7 921 2. Use the retail method to approximate cost of ending inventory valued under Conventional method (Enter your answer in thousands including 2 decimal places, l.e. 12,550 would be 12.55) Conventional Ending inventory ($ in 000s) Check my wow