Problem 9-8 Retail inventory method; conventional [LO9-4] Grand Department Store, Inc., uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of October 2018 Inventory, October 1, 2018: At cost At retail 13,000 23,000 Purchases (exclusive of freight and returns) 91,892 139,500 4,400 At cost At retail Freight-in Purchase returns: 1,400 2,100 1,800 200 730 3,800 128,730 At cost At retail Additional markups Markup cancellations Markdowns (net) Normal spoilage and breakage Sales Required 1. Using the conventional retail method, prepare a schedule computing estimated lower of cost or market (LCM) inventory for October 31, 2018. (Round your cost-to-retail percentage to 2 decimal places (i.e., 0.1234 should be entered as 12.34) and round your final answers to the nearest whole dollar.) Cost Retail Beginning invento Cost-to-retail percentage Goods available for sale Estimated ending inventory at retail Estimated ending inventory at cost