lola 4. lowing data were available from Hegge Department Store's records for the year al Inventory Method The ded December 31, 2016 At Cost $ 90,000 330,000 handise inventory, January 1, 2016 Merchandi At Retail $130,000 460,000 10,000 40,000 480,000 W Purchases Markups Markdowns Sales Required: Using the retail mer lower of cost or marker she retail method, what is the estimate of the merchandise inventory at December 31, 2016, valued at the et or market? Round the cost-to-retail ratio to 3 decimal places. u tilimentary method used by Jeffress Company