The following data concerning the retail inventory method are taken from the financial records of Blake Company.

Cost Retail

Beginning inventory $132,000 $ 220,000

Purchases 362,500 550,000

Freight-in 16,000

Net markups 45,000

Net markdowns 16,000

Sales 625,000

a.) What is the ending inventory at retail?

b.) If the ending inventory is to be valued at approximately the conventional retail inventory method, the calculation of the cost to retail ratio should be based on goods available for sale at:(1) cost(dollar amount) and (2) retail(dollar amount)

c) What is the cost of ending inventory using the FIFO cost method?

d.) What is the cost of ending inventory using the LIFO Retail Method?