Steph Company uses the retail inventory mettiod. Inventory, purchases, and sales data as of October 31, 2018 are as follows: Cost $200,000 Retail $250 Beginning inventory Purchases Purchases discounts Purchases teturns and 665,000920,000 60,000 80,000 60,0 45,000 80,000 allowances 1 t- -t Freight-in Net markups Net markdowns Net salesI 170,000 80,000 620,000 Required: Using the retail inventory method, prepare a well-labeled schedule, to calculate the approximate lower of average cost or market value of Steph: Company's ending inventory on October 31, 2018. Round your cost to retail ratio to two decimai places and your inventory amounts to whole dollars