Requirea intormation [The following information applies to the questions displayed below.) Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows: a. The inventory at January 1, 2019, had a retail value of $48,000 and a cost of $32,600 based on the conventional retail method. b. Transactions during 2019 were as follows: Cost $312,360 6,200 5,300 Retail $520,000 13,000 Gross purchases Purchase returns Purchase discounts Gross sales Sales returns Employee discounts Freight-in Net markups Net markdowns 511,500 5,000 4,500 28,000 28,000 13,000 Sales to employees are recorded net of discounts. C. The retail value of the December 31, 2020, Inventory was $64,050, the cost-to-retail percentage for 2020 under the LIFO retail method was 68%, and the appropriate price index was 105% of the January 1, 2020, price level. d. The retail value of the December 31, 2021, inventory was $51,300, the cost-to-retail percentage for 2021 under the LIFO retail method was 67%, and the appropriate price index was 108% of the January 1, 2020, price level. Required: 1. Estimate ending inventory for 2019 using the conventional retail method. (Amounts to be deducted should be indicated with a minus sign.) Cost Retail Cost-to-Retail Ratio Required: 1. Estimate ending inventory for 2019 using the conventional retail method. (Amounts to be deducted should be indicated wl minus sign.) Cost Retail Cost-to-Retail Ratio Beginning inventory 0 ces Goods available for sale Cost-to-retail percentage Less: Not sales Sales Sales returns Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost