Problem 9-8 The records for the Clothing Department of Blue's Discount Store are summarized below for the month of January Inventory, January 1: at retail $25,200; at cost $17,100 Purchases in January: at retail $135,500; at cost $86,778 Freight-in: $9,100 Purchase returns: at retail $3,000; at cost $2,200 Transfers in from suburban branch: at retail $12,700; at cost $6,900 Net markups: $7,900 Net markdowns: $4,100 Inventory losses due to normal breakage, etc.: at retail $300 Sales revenue at retail: $94,300 Sales returns: $2,400 Compute the inventory for this department as of January 31, at retail prices. Ending inventory at retail 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, e.g. 28,987.) Ending inventory at lower-of-average-cost-or-market