Presented below is information related to Muharraq Company. Required: Cost Retail Beginning inventory $484,000 $500,000 Purchases 1,750,000 3,450,000 Markups 160,000 Markup cancellations 65,000 Markdowns 49,000 Markdown 10,000 cancellations Sales Sales discount 3,320,000 140,000 Compute the ending inventory at retail and at cost by the conventional retail inventory method (Show your calculations)