Sarasota Company began operations late in 2016 and adopted the conventional retail inventory method. Because there was no beginning inventory for 2016 and no markdowns during 2016, the ending inventory for 2016 was $11,811 under both the conventional retail method and the LIFO retail method. At the end of 2017, management wants to compare the results of applying the conventional and LIFO retail methods. There was no change in the price level during 2017. The following data are available for computations.

		Cost		Retail
Inventory, January 1, 2017		$11,811		$18,900
Sales revenue				80,000
Net markups				9,200
Net markdowns				1,500
Purchases		53,400		74,600
Freight-in		6,679
Estimated theft				1,900

Compute the cost of the 2017 ending inventory under both:

(A) The conventional retial method. Ending inventory using concentional retal method $_____________ (I kept getting $20,167, which is the incorrect answer. I am unable to get the second two if this one is wrong so please help)

(B) The LIFO retail method

Ending inventory at cost $_____________ and Ending inventory at retail $_____________