Question1 As of January 1, 2017, Splish Inc. adopted the retail method of accounting for its merchandise inventory To prepare the store's financial statements at June 30, 2017, you obtain the following data. Cost Selling Price Inventory, January 1 Markdowns Markups Markdown cancellation:s Markup cancellations $39,600 10,100 9,800 7,000 2,900 155,300 154,500 3,700 7,300 $29,100 112,070 Sales revenue Purchase returns Sales returns and allowances 2,500 Compute Splish's June 30, 2017 inventory under the conventional retail method of accounting for inventories. (Round ratios for computational purposes to O decimal places, eg, 78% and final answer to 0 decimal places, e.g. 28,987.) Inventory under the conventional retail methood LINK TO TEXT without prejudice to your solution to part (a), assume that you computed the June 30, 2017, inventory to be $61,560 at retail and the ratio of cost to retail to be 73.48%. The general price level has increased from 100 at January 1 2017 to 108 at June 30, 2017. Compute the June 30, 2017, inventory at the une 30 price level under the dollar-value LIFO retail method. (Round ratios for computational purposes to 2 decimal places e.g 78% and final answer to 0 decimal places, eg. 28,987.) Ending inventory at dollar-value LIFO cost Click if you would like to Show Work for this