Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2018, the records indicate the following data: ($ in 000s) Cost Retail Beginning inventory $ 77 $ 122 Purchases 668 1,003 Freight-in on purchases 27 Purchase returns 2 3 Net markups 5 Net markdowns 9 Net sales 913 Required: Use the retail method to approximate cost of ending inventory in each of the following ways: (Enter your answers in thousands. Round your cost-to-retail percentage calculation and final answers to 2 decimal places.)

Check my work 2 Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2018, the records indicate the following data in 000s Cost Retail $ 77 122 668 1,003 10 points Beginning inventory Purchases Freight-in on purchases Purchase returns Net markups Net markdowns Net sales 27 eBook Print References 913 Required Use the retail method to approximate cost of ending inventory in each of the following ways: (Enter your answers in thousands. Round your cost-to-retail percentage calculation and final answers to 2 decimal places.) Ending Inventory ($ in 000s) 1. Average cost 2. Conventional