Problem 9-8 The records for the Clothing Department of Cranes Discount Store are summarized below for the month of January.

Problem 9-8 The records for the Clothing Department of Crane's Discount Store are summarized below for the month of January Inventory, January 1: at retail $24,600; at cost $16,600 Purchases in January: at retail $136,900; at cost $71,358 Freight-in: $9,400 Purchase returns: at retail $3,000; at cost $2,200 Transfers in from suburban branch; at retail $12,800; at cost $7,100 Net markups: $8,100 Net markdowns: $4,000 Inventory losses due to normal breakage, etc: at retail $300 Sales revenue at retail: $96,200 Saes eturns: $2,500 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 decimal places, eg, 28,987. Ending inventory at lower-of-average-cost-or-market s