The Kwok Company's inventory balance on December 31, 2021, was $265,000 (based on a 12/31/2021 physical count) before considering the following transactions: 18.18 points 1. Goods shipped to kwok f.o.b. destination on December 20, 2021, were received on January 4, 2022. The invoice cost was $50,000. 2. Goods shipped to Kwok fo.b. shipping point on December 28, 2021, were received on January 5, 2022. The invoice cost was $37,000. 3. Goods shipped from Kwok to a customer fo.b. destination on December 27, 2021, were received by the customer on January 3, 2022. The sales price was $60,000 and the merchandise cost $42,000. 4. Goods shipped from Kwok to a customer f.o.b. destination on December 26, 2021, were received by the customer on December 30, 2021. The sales price was $40,000 and the merchandise cost $33,000. 5. Goods shipped from Kwok to a customer fo.b. shipping point on December 28, 2021, were received by the customer on January 4, 2022. The sales price was $45,000 and the merchandise cost $32,000. eBook Hint Required: Determine the correct inventory amount to be reported in Kwok's 2021 balance sheet. Print Correct inventory balance References 2 of 2 Required information LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March 2021: Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal breakage Net sales Employee discounts Cost Retail $ 54,000 $ 74,000 221,000 414,000 18,358 6,500 9,000 7,200 4,900 9,000 294,000 1,600 -Book Hint Sales are recorded net of employee discounts. Print 2. Recompute the cost-to-retail percentage using the average cost method. (Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34%).) erences Cost-to-retail percentage %