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Business Coul Return to course Finish attempt... eBook Print Videos Marked out of 1.00 P Flag question Question 13 Not changed since last attempt Support Estimating Inventory Using Retail Inventory Method - Conventional Retail-Mart values its inventory using the conventional retail inventory method. It discloses the following data for the month of June 2020. Cost Selling Price Inventory, June 1 $269,000 $400,000 Markdowns 105,000 Markups 145,000 Markdown cancellations 50,000 Markup cancellations 45,000 Purchases 866,000 1,118,000 Sales 1,250,000 Purchase returns and allowances 15,000 18,000 Sales returns and allowances 50,000 Compute estimated inventory at June 30, 2020, using the conventional retail inventory method $ 345,000 21 Mac