Presented below is information related to Kuchinsky Company. Cost Retail Beginning inventory 280,000 1,820,000 390,000 3,000,000 Purchases Markups 130,000 Markup cancellations 20,000 Markdowns 47,000 Markdown cancellations 7,000 Sales 3,150,000 Compute the ending inventory using the conventional retail inventory method. Answer: Cost Retail Beginning inventory 280,000 390,000 Purchases 1,820,000 3,000,000 Totals 2.100.000 3,390,000 Markups 130,000 Markup cancellations 20,000 Add: Markdowns 47,000 Markdown cancellations 7,000 Less Less: 3,150,000 Ending inventory at retail Cost-to-retail ratio: Ending inventory at cost Ik 219npc