Smith Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year: Cost Retail Beginning Inventory 32,000 50,000 Net Purchases 44,000 86,000 Freight-in 2,600 Net Markups 11,000 Net Markdowns 6,500 Normal Spoilage 1,200 1,000 Employee Discounts Sales 102,000 If the ending inventory is to be valued using the conventional retail method, what is the value of ending inventory? Round your cost to retail percentage to FOUR decimal places. O $20.051 $19,410 $19.944 $18,767