Problem #3 Robin Rotelle Corp. began operations late in 2020 and adopted the conventional retail method. Because there was no beginning inventory for 2020 and no markdowns during 2020, the ending inventory as of Dec. 31, 2020 was $525,000 using either the conventional reta or LIFO retail methods. At the end of 2021 Robin wants to compare the results of applying the conventional and LIFO retail methods. The following data is available for computations: Cost Inventory Dec. 31, 2020 525,000 2021 Purchases 1,917,825 2021 Net markups 2021 Net markdowns 2021 Net Sales 2021 Price Index 108 Retail 1,312,500 4,100,000 16,000 202,071 3,690,000 5 6 8 9 0 Required: Compute the cost of the 2021 ending inventory under the a conventional retail method b LIFO retail method c Dollar-value Lifo Retail Method (2020 is "Base-year")