Question 6 of 6 - / 1.75 111 View Policies Current Attempt in Progress The records for the Clothing Department of Ivanhoe Fine Clothing are summarized below for the month of May. Inventory, May 1: at cost $64,600; at retail $98.800 Purchases in May: at retail $106,300; at cost $64.329 Freight-in: $2,900 Purchase returns: at cost $2,600; at retail $3,200 Transfers out to a nearby branch: at retail $9,400; at cost $7,900 Net markups: $6,400 Net markdowns: $3,500 Inventory losses due to normal breakage, etc.: at retail $940 Sales at retail $109,000 Sales returns: $3,300 (a) Compute the inventory for this department as of May 31, at retail prices. Ending inventory at retail $ Question 6 of 6 - / 1.75 (a) Compute the inventory for this department as of May 31, at retail prices. Ending inventory at retail $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) Compute the ending inventory using lower-of-average-cost-or-market. (Round ratios for computational purposes to decimal places, eg 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory at lower-of-average-cost-or-market $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit