The following data concerning the retail inventory method are taken from the financial records of Z-Mart for 2016. Round all numbers in intermediate steps to four decimal places and final answers to two decimal places. Beginning inventory Purchases Freight-in Net markups Net markdowns Sales Cost $ 198,000 Retail $256,000 1,050,000 1,890,000 85,000 178,500 89,500 1,890,000 21. Under the conventional retail inventory valuation method, ending inventory at cost for the year ending December 31, 2016 should be: a. $249,185.75 b. $205,758.00 c. $197,857.50 d. $345,000.00