*Problem 9-8 (Part Level Submission) The records for the Clothing Department of Concord's Discount Store are summarized below for the month of January. Inventory, January 1: at retail $25,400; at cost $17,100 Purchases in January: at retail $139,300; at cost $94,901 Freight-in: $9,300 Purchase returns: at retail $3,000; at cost $2,300 Transfers in from suburban branch: at retail $13,200; at cost $7,200 Net markups: $8,000 Net markdowns: $4,000 Inventory losses due to normal breakage, etc.: at retail $400 Sales revenue at retail: $93,500 Sales returns: $2,400 Your answer is correct. Compute the inventory for this department as of January 31, at retail prices. Ending inventory at retal 37403 Your answer is incorrect. Try again. Compute the ending inventory using lower-of-average cost-or-market. Round ratios for computational purposes to 0 decimal places e g 78% and final answer to O decimal places, eg. 28,987. Ending inventory at lower-of-average-cost-or-market