Question 2 Presented below is information related to Kingbird, Inc. Cost $408,000 1,824,000 77,760 Retail $720,000 3,216,000 14,400 Beginning inventory Purchases Freight on purchases Markups Markup cancellations Abnormal shortage Markdowns Markdown cancellations Employee discounts Sales revenue Sales returns Normal shortage Purchase returns 168,000 134,400 24,960 84,480 11,520 4,992 3,432,000 96,000 16,800 39,360 21,120 Compute ending inventory by the conventional retail inventory method. (Round percentages for computational purposes to 1 decimal place, e.g. 0.4158 to 41.6% and final answer to 0 decimal places, e.g. 5,275.) Ending inventory $