Question 17 Teal Mountain Beachwear Inc. had beginning inventory of $46,400 at cost and $55,680 at retail. Net purchases were $243,600 at cost and $283,040 at retail. Net markups were $6,960, net markdowns were $20,880, and sales revenue was $266,800. Compute ending inventory at cost using the conventional retail method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 5,275.) Ending inventory using the conventional retail method