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Exercise 9-24 Marigold Company began operations on January 1, 2019, adopting the conventional retail inventory system. None been the same under either the conventional retail system or the LIFO retail system. On December 31, 2020, the store management considers adopting the LIFO retail system and desires to know how There has been no change in the price level. Cost $38,400 Inventory, Jan. 1, 2020 Markdowns (net) Markups (net) Purchases (net) Sales (net) Retail $61,100 12,700 22,000 179,800 168,200 131,500 Determine the cost of the 2020 ending inventory under both (a) the conventional retail method and (b) the LIFO reta $ (a) Ending inventory using conventional retail method (b) Ending inventory LIFO retail method $ Click if you would like to Show Work for this question: Open Show Work nventional retail inventory system. None of the company's merchandise was marked down in 2019 and, because there was no beginning inventory, its tail system. FO retail system and desires to know how the December 31, 2020, inventory would appear under both systems. All pertinent data regarding purchases onventional retall method and (b) the LIFO retail method. (Round ratios for computational purposes to 2 decimal place, e:9. 78.72% and finalanse Show Work Question Attempts: 0 of